I’m leaning in to #2:

>raw fear of nascent White Amerikaner nationalism causing them to lash out disproportionately

I believe they thought they’d be further along in their replacement of the White Amerikaner at this point in time. Boomer deaths are ratcheting up (thanks Covid) and soon they will not have vast hordes of die-hard paytriots rallying to their every cause (as if the other generations had any gibs to gib). They don’t really have a good long-term game plan to continue gatekeeping the right once they’ve sucked every last shekel out of the Boomers.

I believe @VaxxSabbath has touched on this in his own way, but to me it seems their choices are:

1) Give the Amerikaner back some institutional power and resources so that the ship stays afloat and their accountability remains obscured.

2) Double down and exterminate the Amerikaner. Retain all institutional power and resources, but try to dodge accountability. White + power is too great a thing to risk (institutional incompetence be damned).

Many are hopeful they choose the former. I fear they are choosing the latter.