[jfengel]

For whatever reason, identifying with the mainstream story isn't working for them. They feel left out and powerless.

Identifying with the conspiracy theory gives them a shortcut to power by inclusion with other conspiracy theorists. They can quickly become a large fish in a small pond. And even as the smallest fish in that pond they are already ahead of everybody who accepts the mainstream theory.

It's also useless. Conspiracy theories give one secret power that can't actually be applied. The best one could hope for is that one day everybody else will be forced to accept your conspiracy theory, which will somehow confer prestige on you. But they can live in hope of that sudden burst of importance, while simultaneously having a built-in excuse for having no importance now.