I like the rational approach very much. I’ve come to entertain the idea of ignoring linguistics. It can be applied to conspiracy theories too.
Imagine all the imprints that have happend to a person in their life. Then assume every psychological/behavioural pattern known to you is present, while the extent of it is undefined.
Is it then possible that something exists that let’s someone express it with words such as “deep state”?
That’s an easy “yes” usually.
Now, that obviously doesn’t prove satanic pedophiles influencing the government.
But from a larger perspective and setting every individuals concerns as valid, their belief does point towards something.
It’s probably not be the incarnation of evil itself. But it’s worth taking a look at it. Maybe there a few things happening that could easily be changed for the better.