It could be, but I really don't think so. The splintering of Reform UK and then Restore Britain strongly suggests to me that there's a mass movement. If it were a plot by media moguls, I would have expected them to carefully manage discontent to keep people within the Tories.
To echo roryirvine, I don't think there's any plot. I do think that these moguls are genuinely, virulently racist and jump at the chance to propagate their toxic politics as widely as possible.