It's more the specific facet of "elements of a militaristic nazi-stand in are infiltrating society, tricking individuals and governments into adopting ideas that turn them into tools of thst regime and undermining the ideals of thier home nation" bit that sounds a bit too much like contemporary leftist conspiracy theories.
I suppose to a point it doesn't line up, since the modern theory is that actual nazis are ding it, not just people being tricked by nazis, but that’s treated as a thin line in practice. And the Institute did say they were taking inspiration from real groups and movements, hence why I'm not inclined to give them the benefit of the doubt.