We're talking about people thinking "this company has done a lot of underhanded stuff in the past, maybe they're doing another underhanded thing that they clear

We're talking about people thinking "this company has done a lot of underhanded stuff in the past, maybe they're doing another underhanded thing that they clearly have the ability and motivation to do." I fail to see how that is a conspiracy theory at all, much less one on par with believing the earth is flat.