Labeling something a "hoax" or a "lie" is to assert that there are intentional misrepresentation for some nefarious purpose. There are many belief systems that aren't scientific, aren't even testable, yet still provide frameworks for directing attention and action to good outcomes. (insert name of religious denomination you belong to here).

BD may have some out-there premises, but is just a variant of the organic premise. Over time, the natural empiricism of ordinary people will distill this down to the actions that work best, and the rest of it will go away or be carried along as colorful ritual.

At worst, harmless. Likely useful. Not a hoax.