To evade political restrictions (Elizabethan National Security State), and to meet the popular mind on its own ground, was the double purpose of the disguise in which Will the Jester served as logo. 
The popular mind still, today, is met on its own ground. Only a relative few penetrate behind the mask of Stratford Willy. Francis Bacon elsewhere laid down the necessity of a style which would serve as a veil, imperceptible to the commoners and admitting only such as have attained to the truer interpretation. 
Consider the times. The Tudors had a badge: the double ROSE of the rival houses of Lancaster and York, the red and the white united, or INTERTWINED.  The roses were crossed – a rosie cross – suggesting the secret society of the Rosie Cross, or Rosicrucians.
Consider the times. The Fama Fraternitatis of the Meritorious Order of the Rosy Cross appeared in 1614, though the manuscript dates to 1610, if not earlier.  In 1623, the First Folio of the “Shakespeare” plays appeared. In 1626, Francis Bacon died.
Johann Valentin Andreas is supposed to have been the author of the Fama Fraternitatis, but skepticism about that was expressed by Arthur Edward Waite. Among the founding members of the Rosicrucians was “Brother B., a skilful painter…”  (“B” as in Bacon, and “painter” as in dramatist.)
An old book goes further than this. It claims, among many things, (1) that Francis Bacon’s New Atlantis is a thinly disguised account of an actual secret society; (2) that the object of this secret society, “known superficially to history as the Rosicrucians,” was the advancement of learning (title of another of Bacon’s books); and (3) that the Elizabethan renaissance was not fortuitous but the result of a deliberately planned scheme. 
——- Sources ——-
 The Philosophy of the Plays of Shakspere Unfolded, by Delia Bacon. London: Groombridge and Sons, 1857.
 The Watchers: A Secret History of the Reign of Elizabeth I, by Stephen Alford. New York: Bloomsbury Press, 2012.
 The Real History of the Rosicrucians, by Arthur Edward Waite. London: George Redway, 1887.
 The Tragedy of Sir Francis Bacon, by Harold Bayley. London: Grant Richards, 1902.