The entropic lattice Boltzmann method (ELBM) is one among several different versions of the lattice Boltzmann method for the simulation of hydrodynamics. The collision term of the ELBM is characterized by a nonincreasing H function, guaranteed by a variable relaxation time. We propose here an analysis of the ELBM using the Chapman-Enskog expansion. We show that it can be interpreted as some kind of subgrid model, where viscosity correction scales like the strain rate tensor. We confirm our analytical results by the numerical computations of the relaxation time modifications on the two-dimensional dipole-wall interaction benchmark.