Basically it was a hostile take over by an associate. That eventually resulted in ublock "origin" to differentiate it from the other ublock.
https://www.reddit.com/r/ublock/comments/32mos6/ublock_vs_ub...
This one is called lite because it is not as good as the old version, entirely thanks to Google removing support for manifest v2 extensions.
https://github.com/gorhill/uBlock/commit/a559f5f2715c58fea4d...