The bipartisan Senate investigation committee has said that there are aspects that need further investigation against Trump's aides.
Russiagate is a theory that says Donald Trump's Presidential campaign members had direct contact with the Kremlin back in 2016. Special Counsel Robert Mueller started his investigation into the allegations and published his findings in April 2019. The report did not conclude that the Trump Campaign team were involved with the Russians in meddling with the U.S. Presidential elections, but did confirm that members of the Trump campaign were in direct contact with top Russian officials. Mueller's report failed to prove the Campaign members' direct involvement. This conclusion was used by some Republicans to declare that the Russiagate was a hoax and that the President's campaign had nothing to do with the Russian interference.
On August 18, 2020, a final report was released by a Republican-controlled Senate panel on the '2016 Russian interference'. This bipartisan report suggested that many of Trump's campaign members were businessmen with no political background and that they were vulnerable to fall prey to the tactics used by foreign powers (Russia). The committee report gave a presentation of the evidence in the matter of conspiracy. Still, it did not settle the question of whether Trump's campaign members were directly involved with the Russians in meddling with the 2016 U.S. Presidential elections.
The points raised by the investigators merit further investigation and hence cannot term Russiagate as a hoax.