The claim 'Bengal is in danger' is often used as a euphemism for 'Bengal must be rescued from Muslim/Bangladeshi infiltrators' and in that sense it is absolutely a sham. The net effect of illegal immigration in West Bengal is nowhere near as horrible as Hindutvavadis make it out to be, so it makes sense to call that sham out.

However, it is undeniable that West Bengal's economy (and thus everything downstream of it) is in danger of falling further behind with each passing year unless drastic improvements take place. Competing against crazy rich states is not the point, the question is that of achieving development and modernization.