I think it's much more likely that they're reacting like this because they see their own plight in the wolf. It doesn't matter why the wolf killed itself, it became a meme that allowed many Chinese to reflect together on a common plight.
This seems like a common refrain when we see radicalized engineering students from less-developed countries, who are notably common in extremist groups. They're people on a very difficult path (an engineering program!) with no real path to success (living in a society where unemployment for people with degrees is very high). Cost for continuing on the path is high, and there's no obvious path to get the good outcomes.