On 6th of November 2020, during the last hours of vote counting in the 2020 presidential election, Joe Biden's steadily-increasing advantage over the incumbent Donald Trump in the state of Georgia had led to the state flipping to blue, which caused increased activity on 4chan's /pol/ board.
Shortly after, an anon posted an original picture as the thumbnail for a newly created thread of the brand new /president Biden general/ thread type, which has emerged on 4chan in early November 2020 due to overwhelming majority of users (anons) having considered the elections to have been won by Mr Joe Biden by then.

The image is an edit of a pop-up window from a turn-based strategy game Medieval 2: Total War. It is a summary of a battle that has been played out and pops up at the end of a particularly successful battle.

The image references the internal conflict within 4chan between MAGA supporters, who saturated the userbase of /pol/ after the banning of the the_donald subreddit and the older users, many of whom oppose Trump and criticize him either from a liberal or a 4chan-specific far-right standpoint.

The image describes Biden supporters on 4chan as "Chads", referencing the popular Chad meme.

It is heavily implied that the original posters favours the anti-Trump part of /pol/ community and is opposed to the presence of former subscribers of the r/The_Donald on 4chan.

The image as a whole is related to the wider conflict between different factions of anons, who grouped themselves into either pro-Trump or anti-Trump coalitions, which erupted on 4th of November and kept escalating during the period of high uncertainty over the results and consequences of the elections during 5th and 6th November 2020; the conflict saw a significant rise of pro-Biden sentiment on /pol/, of which the meme is a symptom.