Okay, this is a bit convoluted but tl:dr is the CEO of Bluesky is now deliberately trolling people who are concerned about trans rights.
She posted today and you can see from the responses how this has gone down: https://web.archive.org/web/20251002190531/https://bsky.app/profile/jay.bsky.team/post/3m2a73ot5uk2e
"Waffles" refers to a conversation she had yesterday, I've attached the screenshot. It depicted Bluesky users as weirdos unreasonably criticising opponents, comparing them to pancake fans inexplicably attacking waffle fans.
When someone asked if she would ban an alleged transphobe, she replied "WAFFLES".
EDIT: Jay is BS CEO.