That is not an uncommon guess, but the argument against it is that these took some sophistication to make. This isn’t some disposable gewgaw. These were made with relatively tight tolerances and exhibited the best metalworking fabrication of the age. One theory I’ve seen seriously floated was that they were made as a demonstration of metal working competency, the equivalent of a benchy in 3D printing.
In the 80’s and 90’s there was strong undercurrent that activism couldn’t actually change anything. It was the end of history, all outcomes are and always were inevitable, voting with dollars was the only vote that really matters. Hippy punching was in it’s full flower. Environmentalism was seen as self indulgent and meaningless. “Save the whales,” was spit out as a sort of, ‘go waste someone else’s time,’ dismissal.
The 4th Dilbert collection from 94’ was Shave the Whales, which already struck me as a passe gesture at hippy punching at the time, though I couldn’t tell if Scott Adams was engaging in hippy punching or mocking the hippy punchers.