Hypotheses that can adapt to any evidence are meaningless because they can't be proven wrong. Lack of evidence in favor might be just what you'd expect, but it can't be evidence itself.

It's possible that everything it claims is true, but if it can't make testable predictions then it doesn't matter: it's a stopped clock. You can never trust it when it tells the time.

Conspiracy theories are usually like this, so people dismiss them.