ELI5: OlympusDAO oponents, proponents, and price drop

I listened to a bankless weekly rollup and they briefly talked about olympusDAO and the scandal they had having a former rug-puller on their treasury. I listened to bankless's new episode with tetranode who mentioned olympusDAO as one of the projects he's (still) bullish about.

My understanding is olympusDAOproponents claim it is a new and improved algorithmic stablecoins, while opponents claim it is a ponzi scheme.

Could someone explain the proponents and opponents arguments for and against OlympusDAO? Specifically, what makes it better than other algorithmic stablecoins, say, Dai? And for the argument against it, what makes it a ponzi scheme?

Also, am I correct in thinking the price drop was solely due to the revelation one of its treasury members was a former rug puller?

Finally, any other noteworthy high-level things I should be aware of?

<3 Thanks as always <3