Alright, so I think I've mostly pieced it together based on others' comments, but since all the comments by people that actually know about this firsthand are still complete gibberish to a layman, I'm gonna re explain it.
This is a meme about a 4chan image board called soyjac
k.party, aka, sharty, aka 'arty, but in this meme it's just called "the party". This image board was made as a successor to the board that originated soyjacks (the images meant to depict stereotypes of people in memes made of poorly traced images of real people). Soyjak.party was originally made as a joke, but then it actually took off.
First of all, this is
not a 4 panel meme. It is a 2 panel meme *about* 2 panel memes. Take the left section and right section to be unified panels.
The left panel is showing what was once considered a really good meme on the image board. "Gem" means a particularly good meme, so a direct translation of the top left caption is: "what a good meme posted on soyjak.party used to look like"
The following meme is making fun of the fans of a particular poster in the board, cobson. I'll go through and translate each text bubble:
-Top Panel-
"What #cobgang believe" - this is what fans of cobson believe will happen when they talk about him
"cob log the on" - soyjack on left is saying that user cobson just logged on.
"hwabag" - an acronym for He Will Always Be A Gem, used to say that user cobson will always be an incredible poster. The right character is saying that cobson is a good poster in response to being told cobson just logged on
-Bottom Panel-
"What will actually happen" - no special terms here, it just means what will actually happen when cobson fans talk about him.
"hwabag" - same meaning as above, it's the left soyjack expressing approval of cobson
"cob good doe no bbc though" - this one has me somewhat lost. cob refers to cobson, but I don't know what doe means in this context. It seems like it might just be a way to say "guy", relating to the term John Doe, but it could have deeper implications. A delve into the toxic wastes of soyjak.wiki didn't help. The character on the right has an ace of spades on her face, which is a symbol used by the board to denote people with a fetish for black men. bbc is the same as its more broad, explicit usage, and is used in the context of "no bbc though" to say (i think) that cobson isn't attractive to the soyjack on the right because he isn't black and/or doesn't have a bbc. (remember, this is on 4chan, so expect normal 4chan levels of race-obsessed sex-craving cesspitting) The overall interpretation of the text is "cobson is a pretty good poster, but he doesn't play into my half-ironic fetish"
"She's right" - agreeing with the above sentiment. It should be noted that the left soyjack also has an ace of spades, meaning he has the same fetish and is therefore obsessed with black men.
"dancingswede.mp4" - [this gif.](
https://youtu.be/EpdTDfww0wQ) I think this is just a sort of 'victory dance' for being correct about cobson.
"omgsisa" - acronym for Oh My God She Is So Attractive. I have no idea what this is referring to, but it's probably in response to dancingswede.mp4. It's intended to not make any sense.
"marge" - slang for being confused. The right soyjack is confused about what the left soyjack is saying omgsisa to.
Wow. That was a lot. I feel like I just waded through 5 feet of mud trying to figure that one out.
The right panel is much more simple. The caption of the right panel can be translated to "what the same good meme would look like if it was made now". The second meme is a similar format as the previous, but instead of making fun of cobson fans, it's making fun of people that run bots on the board. Context: soyjak.party is currently overrun by terrible bots.
The meme it depicts doesn't need to be translated line by line. The top panel caption says "what botters believe", which means 'what bot makers expect will happen when they run their bots'. I honestly have no idea what the left soyjack is supposed to be depicting. I thought soor was a misspelling of soot, and soot is a user with a big long story that I didn't read, and there's someone called soot Jr., which could mean that the left soyjack is supposed to be soot Jr., but also maybe that's all wrong. Either way, this section isn't about soot. The top panel depicts a user talking to a bot and the bot replying with nonsense. The bottom panel is the user and the bot going back and forth saying nonsense, and then they're both banned for being dumb spamming bots.
I do not know whether this has made me more or less interested in touring 4chan. All I know is that this meme deserves to be returned to the trash heap it spawned from.