Long story short: the primary person responsible/face of Aegis was accused (credibly) of doing a non-consensual sex act with another bsky user, some people who worked for Aegis abused the labeler to label the people who were speaking out about said abuse.
Seems to be something along the lines of "someone was adding their list of people they disliked to it and putting false labels on them and wait didn't this happen before and--" drama
Followed by "Aegis is down, quick, migrate lists to a furry labeler" (Taurus) who went "Oh hell no" & also shut down