I have struggled to understand conspiracy theorists, but I read a piece which analysed them in terms of a religion. Whatever you think of religion, they are a way of placing a structure onto the world around us. I think it is much harder to accept that the world is chaotic and there is no overarching order. so people look for structures, even if they cal them evil, so that the world isn’t so scary, things are happening for a reason (eg the illuminati etc are controlling it all).
I think it is also why arguing with conspiracy theorists proves to be quite fruitless, people who have a deeply held religious belief cannot simply stop believing, even when presented with clear evidence. They will wriggle, look for exceptions, suggest that there is more going on but that you aren’t enlightened enough to see it.
I do feel a little sorry for them, as is just seems a little desperate, and they would most likely criticise organised religions for being part of the overarching conspiracy, when they themselves are displaying all of the same traits.
I do think there have been cover ups, by the government and other organisations, most of the time they are discovered, and it is due to petty reasons like protecting their mates/ the name of the organisation. However it would be a fallacy to suggest that because cover ups have occurred, all of the world is ruled by an organisation, it is like saying all of the universe is ruled by a god. Neither the God or the world dominating organisation exist, they are merely there to provide a structure when in reality there is only chaos!