The meme uses a two-panel scene from an Indiana Jones adventure: in the first panel, Indiana Jones crouches cautiously beside a gleaming golden idol on a pedestal. The idol is labeled “A well established franchise,” while Indiana Jones is labeled “Disney,” making it look like Disney is eyeing a prized pop-culture property.
In the second panel, Indiana Jones has replaced the idol with a small bag labeled “gay shit,” while the golden idol remains labeled “A well established franchise.” The joke is presented as a clumsy swap: Disney tries to substitute LGBTQ-themed content for the thing audiences supposedly valued in the original franchise.