Generational cynicism.
You have a generation that feels it has been failed by authority and by societal institutions.
So you have this segment of the fanbase that almost desperately wants to see the Speaker as this corrupt/evil figure. I think the fact that he's portrayed as something of a religious leader in the City also plays into it.
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Intriguing notion. Honestly, the idea of the Speaker being a bad guy has always made my eyes roll...even when my friends were throwing it around D1 launch week. I guess we can thank M. Night Shyamalan for his twists... :P Seriously though, our people are surrounded by the Darkness...is one pseudo-leader/spiritual guide that is actually reliable so much to ask for? I guess I just don't get the modern need to have more layers than necessary. Sometimes, people are reliable. Sometimes, they have no ulterior motive other than doing the right thing. I think it's rather telling of our society that this is no longer believable to many. Then again, maybe I'm just an eternal optimist. If Bungie goes this Speaker = Bad route in D2, I would probably view it as more bad writing than actual narrative craft and/or skill.