I look at it as her remembering what happened all those years ago with the Nightmare Moon incident, the art style is the same as it was in the original story book from the first episode.

I actually think it’s more or less implying that Celestia has gone insane, and is rewriting the history she remembers into this strange tale that involves those primordial intergalactic titans, Discord included.
 
It kind of hints at this when who I can only assume is Discord stating “You can rewrite the beginning all you want, but the ending is still mine.” Some of the later panels do make Celestia look somewhat like Discord, also possibly implying that Celestia’s encounter with Discord affected her deeply. Perhaps he even “discorded” her?
 
Either way, this comic is brilliant, as there are so many possibilities as to what’s actually happening in it. It’s a very interesting look into Celestia’s psyche as well.

From what I can tell, this comic involves primordial intergalactic titans, and Celestia and Luna are lesser ones. The universe is in a state of unthinking predation, destroying and devouring each other simply because that’s the way it is.
 
This unstable existance has led the way to madness for Celestia, and quite possibly all of existence. However, ironically, Luna appears to be the first vestige of what I’d call sanity, lovingly comforting her sister.
 
Celestia loves her sibling, but can’t help but be haunted, wondering if one day she, too, will become just another unthinking devourer, destroying her sibling in the process.

@d715  
i think celestia is thinking/having a nightmare about tranforming into a dragon and eating her sister so she would be the only ruler of equestria.
 
meh something common between royalty

I have no ideal what’s going on

Holy…wow…

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