In typical North American and UK English dialects, “bi” and “eye” are pronounced the same. “Bi-“ prefixes are almost never pronounced as you would in some French, Spanish, or Italian dialects (ex “bicycle” vs “bicyclette”) where you would rhyme “bi” more with “bee” as in a honey bee.
I could be wrong. My knowledge of Spanish isn’t profound, and my Italian is even worse (although I do speak with my hands a lot) but I am a French Canadian and speak with a lot of French people (both Parisian and non-Parisian) so you can bet your baguette on that part.
They are implying a collection of various items, memes or otherwise, that contain facts, comparisons, or perhaps even philosophical quandaries that may stump, refute, or put into question their father’s staunch right wing stance
Or they’re looking to prove their dad right that they collect good memes, 50/50 chance