OP does a decent job of summarizing it, but I'm gonna try and do the same, if only to only get my own thoughts in order.
Okay, so Ralph gets triggered by a Literally Who until Literally Who's channel gets Kristallnacht'd shortly after, which prompts the Gunt to chortle through a mouthful of Maker's Mark.
Another Literally Who posts pics of Dick cheating on his woman (like a cunt), talking like a faggot to score some pussy from someone who (I've heard but not confirmed) is also married. He posts this in a gay op attempt to convince Jimbo and Keem that Jarbo said it, despite linking evidence that shows that Dick said it.
Literally Who #2 goes on the Guntstream and triggers everybody, causing him to get gangbanged live on stream. This apparently prompts a legion of Literally Whos to suggest that there is some secret Gay Club tied to NewProject2.
There are sad, pathetic motherfuckers on this website who believe the above instead of considering the less re'tarded theory that the people involved are all Intewnet Fwends uwu and cover each other's asses because of their Evewwasting Fwendship~ (✿◠‿◠). This prompts a further shitstorm to develop here in KF. Somehow Kraut and Queen of Outlines get involved (because of course they do).
Dick, Nick, the BBC and Literally Who #1 end up on a Rekieta Stream (which I have affectionately dubbed "IBS Apocalypse Stream 2: What the Fuckaloo") where Dick and Literally Who #1 end up in an autistic slapfight while Nick and Boss Nigga die on the inside. Dick gets triggered again and somehow Zoom gets involved (because of course he does) when Dick decides to call him in for backup as Rekieta presumably goes in search of the nearest rope. Zoom follows this up with supposedly doxing Dick, which others have claimed is bullshit but who knows at this point?
I think I've got it all albeit I don't think in the right order. Apparently Jim is apparently planning on going on stream with PPP, we'll see how that turns out.