Most conspiracy theories have some sort of factual basis. What makes them conspiracy theories is the wild exaggerations, unfounded extrapolations and unproven connections to all other conspiracy theories.
I have my own "conspiracy theory", which is that people like Alex Jones are assets to whoever wants to divert attention from the factual basis of all these conspiracy theories. Actual conspiracy theorists usually suffer from paranoid delusions and apophenia, they are incapable of maintaining credibility. The factual basis then becomes less credible by association.
So while all the "clever" people get to have a laugh about that clown and his antics, they forgot asking themselves why the hell taxpayer money might be flowing into gay bomb research, and what other ridiculous secret projects might be underway right now.