This is disgusting, and a reflection of leniency towards such hate groups in Armenia: neo-nazi, anti-semitic, homophobic...
Since its installation, this memorial has been repeatedly vandalised.
And this is happening in a country that suffered the 1st Genocide of the 20th century...
But let's not get too excited about this and start jumping to general conclusions.
Undoubtedly, there are racist people among Armenians who believe that they are the best ethnic group ever. Some call themselves Njdehakan, some call themselves Aryan, some are just ignorant people. Then there are conspiracy theorists that think that Masons and/or Jews control everything (they think that these are interchangeable categories and obviously have never met a Free Mason or a Jewish person).
To generalize and say that this kind of people are a representative of the Armenians is false.