Yes, SV is a conspiracy theory.
A conspiracy is two or more men working together toward an end (usually something evil).
The Catholic Church, FOR SOME REASON happened to start down a Freemasonic path in the 1960's.
And SOMEHOW, modernism survived the purge of St. Pius X and ended up alive and well 50 years later, with bishops holding its tenets. How did those bishops learn Modernism? Who got the modernist instructors into the seminaries?
A good theory is that Freemasons infiltrated the Church and/or infected it with their teaching.
That equals a conspiracy theory -- even if a plausible one. Even if I still take showers, look normal, have no mental issues, I can put forth that "conspiracy theory".
You've been watching too much Hollywood. There's nothing wrong with putting things together, or having a brain good at figuring things out.
Matthew