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a hypothesis is a guess.
so instead of 'conspiracy theory'
we should instead say
'illegal guess'

Perhaps.
I do however have my own reservation with the word "illegal". I think it is a powerful word, cleverly used to monopolize the right to judge what is commonly accepted as morally good and bad.

I'm laughing, but that's probably mostly because I no longer see it as a too farfetched scenario. In a not too distant future you might very well face jail time for such a "cruel racist statement".