A faction and its key NPCs for characters to encounter or contend with during their adventures. The backgrounds are relatively short, but jampacked with hooks for developing the NPCs further with full blown schemes and complicated motivations.
This doc actually presents a faction and a half, because in addition to the eponymous Boundless Society, there’s also the Directorate of Extranormality Intelligence. The directorate (or DoEx) whose report is the framing device for the supplement could easily be fleshed out as well. Although not explicitly stated, the references to several CRO teams (and no mention of FIST) lead me to believe the DoEx is intended to be a part of CYCLOPS. But there’s a lot of flexibility here to fold it into your world however you like.