I partially agree with this. When conspiracy theorists go on about corruption, misinformation, etc I do get them. It’s right to get angry about that stuff, and to be sceptical about positions of power.
But more often than not, the problem with conspiracy becomes that EVERYTHING then proves their idea. They won’t listen to data or logical reasoning, and become inflexible. “Oh, so you disagree with me, then how come…”
The other thing is that they jump from something reasonable (e.g. a criticism of how medicine is applied, in the case of anti-vaxxers) and then to the one which is the most wild and impossible to prove (such as Bill Gates putting microchips into us via injection), and then claim THIS as a solid, indisputable fact. Because this is impossible to prove, there is no way to make a reasonable, logical counter-argument.
Most conspiracy theory arguments are appeals to emotion against the idea of “the system” rather than actual realistic ways of fixing it.