IMO the odds of the former scenario is basically zero. They are either terfs or just incredibly ignorant/out of touch libs who just think its the new way to say women owned. either way its basically just being like "yes, we are exploiting our workers who are much cooler than us, why do you ask?"
Yeah, I don't know if they're trying to be inclusive or trans-exclusive. When you say queer-orientated instead of queer/LGBT owned or ally, then that's also strange.
If someone brings up AGAB out of nowhere they most probably have TERF . Of course it has it's place but it's a term that denotes what you get assigned at birth. People try to use it as a woke placeholder for "biological sex" instead of just writing out what they actually mean and not folding it all into a faulty concept. For example I see it used, sometimes even by trans people, when referring to things like how someone got treated while growing, what hormonal profile they have/used to have, what genitalia they have... Most ridiculous example was AFAB-only housing, which just meant "I'm scawed of twans women owo, not allowed in the womb woom.".
Yeah there's situations where it has a place. There are a few (not many) medical checkups that AMAB individuals should do earlier than AFAB individuals even when we're on HRT, for example. There's legal contexts where it matters, usually due to lack of self ID laws in a given jurisdiction and things like drafts. I sometimes say "queer AMAB youths" when i talk about what the experience of unouted transfems and gay and bisexual men is like during adolescence because we go through a lot of the same shit when people have a hunch we aren't cishet, but can't yet differentiate whether to hit us with transphobia or homophobia (not that they get good at that later in life, either).
In German, i also appreciate that we have terms like männlich / weiblich gelesene Person (person read as male / female) to refer to just how people perceive you - there are situations where it makes sense to refer to that instead of actual gender indetity, like when i'm talking about cis women and unouted or not passing transmasc people being exposed to the same mysogyny from their surroundings.