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It stands for "All Cops Are Bastards". It was popular among left-wing people a couple of years ago during the George Floyd protests. The expression has now fallen out of favor for mostly everyone, other than the far-left.

https://en.wikipedia.org/wiki/ACAB

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A lot of folks who are and have been consistently harmed by police still use it, for good reasons.

There is never a good reason for an `All ${large_population_of_people_defined_by_metric} are ${some_derogatory_thing}` statement

Pretty sure you are wrong. Let's see...

All Nazis are bastards. Yep, that works.

All pedophiles are bastards. Still works.

Point still stands: there was no good reason to make the statements because those are obvious. You said nothing of any value: "bad people who do the thing which we as a society have deemed bad are bad!"

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