Chen choked back tears talking about the show's cast and crew, but that's not why Wendy thinks she was actually upset.
After the co-host officially quit the talk show amid a sexual misconduct investigation into her husband, former CBS CEO Les Moonves, Williams ripped into the speech on Wednesday morning.
While Chen was visibly and audibly emotional as she said goodbye to the crew on the show, Williams believes there was another story behind the tears.
"She started crying at the end, but in my mind those weren't tears for the crew," she said, before talking to her own camera operator. "Julie Chen doesn't care about you, you know what I'm saying. She doesn't care about you, but I do!"
"In my opinion, she wasn't crying because of the cast and the crew and the stuff, she was crying because now she has to go back to that compound and deal with that man and try and keep her son out of it," Williams continued.
"There's no compound to me that's big enough," she added, before saying she'd be staying in a hotel with their son if she were in Julie's shoes. "Dammit Les, you messed this up for all of us."
Williams then criticized Carrie Ann Inaba's abilities as a talk show co-host, after Chen said the guest host looked "awful good in that chair, my Asian sister."
"For a moment, I was thinking, now why do you think you have to replace her with Carrie Ann Inaba, who's qualified to be a judge on 'Dancing with the Stars' but she's not a qualified talk show host or panelist," Williams said. "It's not necessary to replace an Asian with another Asian."
Wendy then theorized Chen may have a more nefarious motive for wanting Inaba in her spot.
"I think she might have had Carrie Ann Inaba in her seat because she knows Carrie Ann Inaba is not qualified to be a talk show host," she said, "Thus, spelling the demise. Like, if I can't be there, let them be canceled!"