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Your points in first two paragraphs are valid. Your 3rd paragraph is also valid for someone who is familiar with Venezuela and has kept up with it in the news over the years. But it is not something someone with surface level knowledge and investigation would have come up with, especially for the many people who couldn't point the country on a map. Which is why I find it puzzling.
You may want to check out a book by Michael Parenti, Inventing Reality.