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Basically, it is a physical figure that you get for reaching really high level on the Battle Pass
this site talks about the rewards from compendium available this year and how they work, the aegis is at the very bottom:
https://esports.gg/news/dota-2/all-the-international-2024-rewards-from-the-compendium-explained
Personally I've never been a big follower of the pro-scene, so I don't really care, but it does feel like Valve doesn't actually want TI to be a big event that attracts a lot of talent. Which is what the huge prizepool did- it was, AFAIK, one of the biggest prizes in e-sports.
So yes, its greedy. Theyve given up on the pro scene to take even more profit for themselves when they were already making money hand over fist in dota 2.
it's for long time fans whom already know what a collectors agies is. and have collected them for years.
I refuse to pay for stickers and loading screens.
I would however pay for a Arcana locked behind a 200 dollar battlepass.
Because there's an event going on right now called "crownfall" where you can buy an arcana and then pay EVEN MORE to unlock the alternate secondary styles.
I like the old BP. and I get it's not for most and that's why it changed. just sharing my view ^^