Yes, for once I actually think there IS a "conspiracy"--in certain quarters.
Except the "c"-word implies something unusual, and this isn't. Look at all the security-scare articles (some Mac-related) that come from sites owned by Symantec if you dig through the fine print. Look at all the fake grassroots support Microsoft pays for again and again. These things happen. Money has huge power over truth, in everything from blog posts to world news reporting.
And look at this:
http://2aday.wordpress.com/2007/06/19/zdnet-really-really-really-hates-apple-the-iphone/
In the past week--with NO new real hands-on iPhone info--there have been 2 positive ZDnet blogger stories about the iPhone, 2 neutral stories... and almost 60 negative! A similar pattern can be seen with other Apple products. Not on every site, but surely on some--like ZD.
Some force other than journalistic integrity is at work, I agree.
Is there as much good press as bad press out there? Maybe. Certainly there's a lot of good press. But in certain quarters there's evidence for a concerted, organized effort as the OP suggested. And SHOULD there be equal amounts of good and bad press? No--there should be honest reporting, which will come out mostly good for some topics, mostly bad for others.
Wherever the money and/or pressure is coming from, it WILL put a dent in iPhone interest. But I suspect that demand will still exceed supply for a very long time

During which time the iPhone will keep improving, gaining new models, and dropping in price.
It's no wonder some companies are afraid.