If you duckduckgo 'intel processor backdoor' the first hit is:

https://www.techrepublic.com/article/is-the-intel-management...

So it doesn't seem like it is bullshit.

Another note: While yes, the foil of the hat is thin, the term is 'tin foil hat'.

Intel ME is not a conspiracy. It's a feature.

Is it tinfoil hat worthy when Intel has such a poor track record?

Any feature that sabotages the computer after 30 mins once disabled is not a feature. Intel me is a backdoor.