The allegation toward Pepsi was that the can design was intentionally done so that—when six-packs were stacked in the grocery store—some portion of them would line up to spell "SEX".
There was (still is?) a mini-moral panic around subliminal advertising, and Pepsi trying to do that wasn't well received.
You can judge for yourself here: https://i.imgur.com/H1OV1iC.jpg
I'm not sure Alpha-Bits or the soup have had labels with naughty words on them.