The lab leak theory was extremely plausible even assuming no secret conspiracy at all. Lab leaks do happen, that lab did do gain of function research, the State did shut down investigations, etc.
1.) Do they have an incentive to conspire?
2.) Do they have the ability to conspire?
Where both are true I think conspiracies exist every where, often to such an extent it just gets labelled as corruption rather than conspiracy.
There was a huge overlap because within a month it became completely taboo for anyone who cared about not being seen as an alt-right activist to say anything about it. Even freaking Jon Stewart got caught in the instant-cancellation blast [0].
A major problem with our world today is that anything that the alt right supports instantly becomes taboo for the rest of us. People are more concerned with distancing themselves from the alt right than they are with finding and supporting the truth—and that goes for just about anything, not just COVID.
[0] https://nypost.com/2023/02/28/jon-stewart-recalls-outrage-af...