Yes, I believe that is true. I haven't watched the film yet but have accepted that it was invented by the CIA and can see that it has become a very effective tool in preventing people from questioning the government and its lackeys in the media.
The problem is that it encompasses everything and to some everything is a conspiracy and then I just tune them all out. If you believe that the earth is flat( just using it as an example) then I'm not going to believe what you tell me about anything that even might be true such as in the JFK conspiracy theory. PS, I didn't watch the video....anything longer than 5 mins, I won't watch unless it's something I look up for myself with the intent of watching it.