So yes, ideally such broad public vigilance will have aspects of a snipe hunt.
(Just to note: What we do want to avoid is witch hunts.)
The origin of the term is a practical joke where inexperienced campers are told about a bird or animal called the snipe as well as a usually ridiculous method of catching it, such as running around the woods carrying a bag or making strange noises.The purpose of a wide democratic snipe hunt is to keep the opposition occupied with an impossible task. It's a bonus that they get a laugh out of it.
* Is there anything that wikipedia doesn't cover?