I do enjoy the fact "conspiracy theory" is a pejorative, although it's how we interpret the world as humans. The term only started to become a pejorative because the news / government started pushing the idea as a pejorative in the 50's.
https://www.routledge.com/The-Stigmatization-of-Conspiracy-T...
The term was particular pushed in a negative light onto those questioning the murder of JFK.
https://history-matters.com/archive/jfk/cia/russholmes/104-1...
My favorite modern conspiracy that's true, not a theory. Is that there is a ring of elite pedophiles in washington and around the globe trafficking kids. We have confirmation of that with Epstein. Ghislaine Maxwell is currently in prison for the sex trafficking of minors... of course, they failed to prosecute or even mention to whom they were being trafficked; although there's a lot of politicians and wealthy business men who've been seen / visited their island (where the sex trafficking was taking place).
The point I'm making is that the negative connotation with this term comes directly because people in power want it that way; its a way to dismiss criticism and belittle those identifying failure. Identifying what's wrong with the world is good for us.Then sharing and discussing that belief builds a community and a shared identity. There's obviously a benefit to that.