Young kids in Port Arthur are often mixed up off a combination of marijuana and PCP, rolled into thin blunt wraps such as Swishers. Their decision making is imbalanced, causing them to commit idiotic crimes.
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The actual lyric is “two of them shits was due”. Jay is off-handedly dismissing I Am… and Nastradamus without directly referring to them, while alluding to the streets' perception that Nas had sold out with It Was Written and Illmatic was as classic as it’s claimed to be. However, those albums were only good because they came when he was still hungry and he has lost his fire for rhyming.
An eon is an indefinite, undefined period of time. Most rap careers are fleeting and flame out after 5-10 years, yet Jay-Z is still just as strong a name after three eons — in hip-hop’s case decades, apparently — as he was when he first hit the scene.