Admittedly, the regulating belief aspect is something even in my half formed ideas i threw together just to give it an anomalous kick, with most of what efforts i have focused on A) fleshing out the creature and B) the idea that nessy is just one of them, with the phenomena affecting lakes worldwide (Lake Okanagan, Lake Champlain, and etc being examples of other lakes with similar but probably lesser monsters). The insect thing is to in part at least explain away how sonar and such never find anything in these lakes- the insects only swarm together into monster form occasionally, and it's generally bad when they do. I admit I didn't know about 2810 but even if I had, this idea for the form of the monster is one I've had since grade school.
The idea with that was also that it'd require more active containment on the part of the foundation, rather than setting up a one and done solution they'd have to constantly monitor and try to keep belief within the acceptable ranges, lest it like… i honestly don't know what it would have done if people didn't believe in it enough or believed in it too much, get aggressive i guess? Yeah that whole thing could probably go. I've read about 1160 here but it wasn't too much an influence here largely because what I did have in mind would have been different in practice if not in overall theme.
As I type this beings to flow more… perhaps a way to marry the concepts might be that belief is tied to the insect's reproduction or is somehow their food source, which leads to bigger monsters? The more people believe, the more insects are born and the bigger Nessie gets, and if enough people don't it starts getting aggressive and showing itself more so that more people see it and believe?