Well, it’s a start. (And before the speechers get going, these rules have applied to non-famous people forever.)
Alex Jones being Bill Hicks is the most interesting conspiracy story concerning him and it is best to view him in that light as a comedy act albeit with more outrageous content, seeking publicity and notoriety.
Allegedly Alex Jones hates that particular conspiracy but he plays up to it to. I say put him in his box by considering him as a comedian.
I'm not quite sure what he is, but I don't think he's a comedian. He's either a character developed to market products, a genuine paranoid conspiracy theorist, or both.