Hmm, there seems to be a big logical gap in this argument.

I think it's fairly clear that the ultra-rich aren't literally conspiring together, but why is this necessary for the story to be true?

The ultra-rich have very similar motivations; they can be making the same evil, destructive choices individually, without actually calling up their counterparts on the phone and organizing it.

Also, I get the impression that when you throw out the word "conspiracy theorist" a lot, you equate it with "delusional".

But an an awful lot of conspiracies have actually been proven to be true in the past. The Communists conspired to take over Russia, the Nazis, to take over Germany; 9/11 of course; the Republicans under Nixon conspired to commit and then cover up crimes; and also in the Reagan administration; and let's not forget the conspiracies leading up to the failed rebellion on January 6.