Houthis were trying to divert port traffic to hodeidah port which is under their control, from ports under control of other factions.
But now with the naval blockade hodeidah is done for and as a result houthi revenue from customs and port taxes.
Well this one is a good conspiracy theory.
"Conclusion America was embarrassed by the allies for not taking any direct military action to support Israel and Israel repeating its appeal to America to intervene and protect navigation in the Red Sea. Al-Houthi was embarrassed by his supporters for not taking any military action to support Gaza. In order to avoid this embarrassment, they all decided to engage in a scandalous farce, and both sides would benefit from this whirlwind. America proves to its allies that it defeated its ally, Israel, and was able to deter the Houthis. Al-Houthi proves to his supporters that he is waging a direct war with America to support Gaza. No America was harmed. Neither the Houthis were harmed. The only people harmed were the Yemeni people, who were affected by the situation, and instead of Israel's siege, the siege was reversed on Yemen. This blockade resulted in a crisis in oil derivatives and the absence of many goods and consumer materials from the markets as a result of the closure of Bab al-Mandab to ships, some of which were on their way to the port of Hodeidah."