I also have a conspiracy theory where he is a CIA agent and George Harrison is an MI6 agent and they conspire to make Dylan the 5th Beatle to improve relations between USA and UK in the cold war, but this failed because McCartney was afraid of Dylans songwriting capabilities. In the end Dylan and Harrison made the traveling Wilburys, which therefore is actually the Beatles how they should be. I can produce like 20 pages worth of proof for my theory; I may make a post about it someday.