Honestly octopus was just the way political cartoonist portrayed influence neteworks lol. Yes it sometimes portrayed antisemitic conspiracies, but it seems like all popitical cartoonists used the same lazy way of portraying influence.
when muckraking 20th century journalist Frank Norris wrote "The Octopus" about the rise of the Standard Oil corporation, he was actually doing an antisemitism against John Rockefeller's northern baptist beliefs
Greta posted something with one of the little ND feelings expression octupus plushes, and some Zionist dug up a Nazi propaganda poster depicting Jewish people as an octopus spreading it's tentacles across the globe and used it as a pretense to call her an anti-Semite. People have been riffing on it since, as one does.