I've seen it a day or two ago. Can't find the picture anywhere now (I've seen it in some group chat). Anyway, beyond the words quoted at the beginning of this article, the meme's "nested loops go brrr" had a picture of a triple-nested loop using Active Record to do some simple database operations.
To which the correct response is: "it's a 'senior developer' in an industry where you get called a 'senior' after a total of 3 years of experience doing programming; don't do stupid shit like this, just use SQL like it's meant to".