>>17924020 (OP)
>Why did people fall for it?
Populist rhetoric
>Why didn't they immediately realize it was too good to be true?
Probably because they realized the point was that the only way for the working class to raise their standard of living and truly seize the means of production was to continue to fight for their right as a whole. I don't understand why you'd think they were meant to "immediately realize" anything
>Better question: Why do (some) people still believe in it?
Populist rhetoric