They're close, but it's not those who are incompetent who tend toward cynicism as a defense against being taken advantage of. It's those who feel powerless, and have a high level of vigilance against further perceived losses of agency. This is fueled by the same psychological mechanisms as loss aversion, but what is perceived to be at risk of loss is not finances or resources, but rather the ability to express one's own will (the most precious resource of all).

This very principal is behind the rise of conspiracy theories in times of upheaval and uncertainty throughout history, including during the pandemic.