Semi-Skimmed Democracy: Someone once said, “just because you’re paranoid, it doesn’t mean they aren’t out to get you.” In the same way, referring dismissively to conspiracy theory doesn’t mean there is no conspiracy.
There are different levels of conspiracy, of course. There may not be any aliens in control of our planet - who knows? - but it is a fair bet that there are all sorts of reptilian characters up to no good. Sometimes they meet in rooms. This is, by definition, a conspiracy.