For John, BLUF: The Caliphate thinks big. Nothing to see here; just move along.
Looking at what ISIL, become IS, become the Caliphate thinks its natural boundaries are, we find this article, with an included "five year" map. This would be all of Spain and Portugal in the West and Bangladesh in the East. To the North we have Austria and big parts of Russia and to the South, all of the Western bulge of Africa and across to Kenya. No small territorial grab objective.
Regards — Cliff