There's a subreddit about this called /r/ElsaGate. Some of them feel there's a more sinister meaning to some of the content of these strange videos, like here: https://www.reddit.com/r/ElsaGate/comments/6t754b/thank_you/
To be honest I'm not sure what's worse -- that or the child molester angle.
In a world with private key encryption, sending a message on a weird video on youtube via antiquated cyphers seems less plausible than bot generated comments from a lexicon that increase a videos profitability.
If I was to infer a conspiracy, it would be that the some people are putting easily deciphered insidious messages on the videos purely for their own entertainment. The videos themselves are a simple cash grab, some of which are very weird and those are the ones we end up discussing.
This works until they should be old enough to know about strange and stupid content.