Was Atlantis an allegory mankind’s deterioration?

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I've read a theory that the story of Atlantis was written as an allegory for human ignorance and without enlightenment, man falls into chaos, just as Atlantis sunk when the kings became greedy and corrupt.

The theory also states that Plato was initiated into a "Mystery School" in the Pyramid of Egypt. Apparently these mystery schools were like ancient versions of the Freemasons.

Any thoughts on this? Here is the website link: http://www.ancientmonks.com/mystical-order-of-neglected-knowledge/important-documents/the-case-for-atlantis