Having been there for the collapse, no that is not how the regime collapsed. It was 20 somethings pushing for concessions on the prices of bread and powdered milk and the powers that be caving into demands and then deciding that they would be better off without communism and going further than any of the protestors expected.

This movie was made in 1967: https://en.wikipedia.org/wiki/Whale_(film) and was seen by 20% of the population of the country at the time. This is not the product of a society where no one had any idea what was wrong and how it could be fixed.