I'll tell you what's absurd: Believing the Chinese government sent a spy to honeypot Huang into providing chips to Chinese companies, while everything about their public policy has been designed to prevent exactly that.

The Chinese government wants Chinese companies to buy Chinese chips.

Indeed it seems absurd, but maybe the Chinese government sent a spy to honeypot Huang into destroying (indirectly) its own company instead - knowing how western culture react to such events.

Mission accomplished

Do you find it implausible that there is any reason the Chinese government would want to spy on NVidia?

I think you're misunderstanding - I think the suggestion of a hit job is because of the timing of all this coming out.

His affairs have been going on for months or years, so much so that various places knew about it, did nothing to stop it, and didn't leak it.

I think it's a fair question to ask "why is this all coming out together now?" Nobody seems to know. In the absence of any other explanation, suggesting "hit job" isn't absurd.

[delayed]

My guess would be it having to do with Jensen's friend in 1600 Pennsylvania Avenue recently losing a ton of power.