Sorry, no. There doesn't have to be even the smallest kernel of truth in a conspiracy theory. And, sadly, the more you ask a conspiracy theorist to explain, the more likely they are to become even more rooted in it -- and are now going to attempt to convince you of why their wackadoodle belief is right and true.
There is nothing to be gained by "understanding" that someone believes that Democrats and "Hollywood elite" drink the blood of babies or that Trump actually won the election he so clearly lost or that the earth is flat.
All we can do is think of and treat them as mentally ill and hope that eventually they once again return to reality.