There's definitely something to that comparison. Folklore and conspiracy theories both serve similar psychological needs - they give people a sense that there's hidden knowledge or meaning underneath the surface of everyday life. The main difference is speed and scope. A folk tale might take generations to spread through a region, while a conspiracy theory can hit millions of people in days now. The internet basically supercharged the folklore mechanism. Where your grandpa might've heard a ghost story at work and told it to five people at dinner, now someone posts something and it reaches thousands before breakfast.
The shift probably started accelerating in the 90s and 2000s when forums and early social media made it easy for people to find others who already believed similar stuff. It creates these echo chambers where the theories get reinforced instead of fading out like folklore used to. Before the internet, folklore naturally got diluted because it had to pass through skeptics and people would forget details. Online, you've got algorithms pushing you deeper into whatever rabbit hole you're already in. The structure you noticed is spot-on though - both have those mysterious origins, spread through communities, and are basically unfalsifiable because evidence against them just gets spun as "proof of the cover-up." The real difference is that folklore knew it was folklore. People told ghost stories and mostly understood they were stories. With conspiracy theories, folks actually believe this stuff is real news that's being hidden from them.