It's a viable explanation.
Russian state media were allowed into the Zelensky meeting while other traditional news orgs were not.
The use of tariffs and customs against trading partners to shape general foreign policy, via a compromised president, as well as other things, is strongly reminiscent of Russian interference in Ukraine pre-2014.
Even the Mueller report is best read as concluding there was obstruction of justice into the investigation.
Thiel has openly discussed disappointment with democracy and advocated for autocracy, and his companies have celebrated the current state of things in shareholder meetings.