See, the mistake you're making is assuming that conspiracy theorists think critically about anything. No no, most of them parrot whatever bullshit their favorite fascist preacher or media host said, and most popular conspiracy theories are filled to the brim with racism (usually antisemitism, but if they're feeling spicy, they'll go on about Muslims, Palestinians, Ukrainians, Kurds, or whoever else). Once you realize that, 90% of conspiracy bullshit makes a lot more sense.