Why not both? No need to be so disparaging.
This is true of every intelligence agency. Reflexively reaching for the CIA to explain all geopolitics is lazy conspiratorialism.
If you don’t believe in protests within dictatorships then you don’t believe in democracy. As simple as that.
Yes, it’s possible to believe in an incompetent CIA. Particularly when Iran is directly an adversary to multiple countries in the Middle East and further that it’s been fucking with more recently than the 1970s.