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I say this is a conspiracy theory because if you listen to even five minutes of this (pretty unfunny, admittedly) panel, it's abundantly clear that they are indeed talking about bad hummus, not Jews. In fact, they rank a few known Jewish streamers as Arab or Arab-coded -- i.e. allowed to say 'habibi' -- and vice versa. And, as mentioned, one of the panelists is also Jewish.
There's also the fact that I don't think most people would know this Hebrew word, but would definitely have heard of the brand. So if this is some attempt to promote antisemitism, it seems pretty lousy. If this was an attempt at antisemitism, it also doesn't make much sense to single out only Jews born in Israel. Antisemitism doesn't make this distinction (at least that I've ever heard). It usually focuses exclusively on 'global cabals' and the 'new world order' and conspiracies of that nature.