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Subjects of Equestria! We are pleased to kick off the Nightmare Night Festivities and the 14th anniversary of the return of our beloved Princess Luna! Join us in celebration!
It’s a imaginary scenario. It’s fanart just for fun.
It makes a lot more sense in context.
An alternate universe version of Rainbow Dash became an alicorn and the alicorn she’s talking to is basically the pony Grim Reaper while the Draconequues is the spirit of natural selection/evolution via conflict who is his ex(?)-wife.
I don’t think I’ve read it this far as to remember why it’s happening though.