The theory has shifted a bit recently. For a long while, it was thought the meteor in the sky was going to crash into Tilted Towers.
That theory came from some bad actors creating false conspiracy theories. After a recent patch, a meteor-like object appeared in the sky and controllers started rumbling randomly throughout the match. Epic later confirmed the vibrations were a bug, but that didn't stop one YouTuber from claiming that the controller vibrations actually translated into Morse Code, which, when deciphered, pointed towards the grid letter and number where Tilted Towers is located. He was later outed as making it all up. But the conspiracy spread fast (Ninja repeated it a few times during different streams) and Tilted became ground zero for the supposed meteor strike.
Epic's clearly made whatever is falling from the sky an integral part of the "story" that's taking place in Battle Royale. Stargazing stations with telescopes have popped up randomly all over the map, the meteor is getting bigger, and recently large shooting stars have started appearing in the sky. Something is clearly going on.
A lot of the talk of Tilted getting whacked is actually projection from players. Tilted is a pretty divisive location in Fortnite. Many players think it has fucked up the general flow of gameplay because such a disproportionate amount of players drop there, causing a very rapid early-game player drop due to quick deaths, and also reducing player interest in the east side of the map. I think Tilted has become the defacto location for a meteor strike because many players just hate it so much.
Nobody really knows what's going on, but based on some of the recent flavor coming from Epic and some theorycrafting from Save The World players, the consensus is shifting away from a destructive meteor and more towards Alien invasion.