The tales of Satanic cults are the unmistakable signs of the absurd. So are outlandish accounts of earlier incarnations, or of being captured by aliens and taken for rides in UFOs. All are justified by recovered memories. There have been some strange groups, all right - one is reminded of Jonestown, or the Charles Manson cabal, or the killings at Matamoros. But all were found out.
Cults do exist.
Something very much like this has been happening with recovered memories. Erstwhile rational people disowning their real memories and participating in self-brainwashing. They discard their old identities as parents and professionals, and redefine themselves as abuse victims. They turn cold to their parents, often denouncing them in Mao-like struggle sessions. No pain, no gain.