1. Someone that is well-versed in the field of Arachnology.
2. A faggot, it was originally a 7chan wordfilter of the word faggot many years ago, showed up when people would respond with posts like 'do it faggot'; but nowadays it tends to be used as an insult more for someone who knows way too much about shit no-one cares about.
"Arachnology is so fascinating"
"shut the fuck up spider expert"
"I'm gonna slit my wrists"
"DO IT SPIDER EXPERT"