The NO2X drama explained simply

It's mostly a power struggle between core developers (and their allies) vs rest of ecosystem.
The ecosystem was divided for years on how to scale Bitcoin but they (big and small blockers) finally agreed to compromise on Segwit + 2x.

Bitcoin Core developers have historically called the shots on Bitcoin's development so they refused to compromise. They know that compromise would mean acknowledging they no longer get to dictate Bitcoin's future.
Core developers are largely associated with the people who run /r/bitcoin and many of its users. There has been a lot of astroturfing, FUD and propaganda aimed at spreading the following narrative:

-Core developers are the only ones who care about users
-Everyone else is trying to centralize and control Bitcoin
-Core developers are selfless, everyone else is greedy
-If you are not aligned with core developers, you are an enemy of Bitcoin and want it to fail

A lot of users are seduced by this narrative as it makes them feel like "freedom fighters". They have to put up with a lot of cognitive dissonance when faced with reality though.
So far, it looks like the Segwit2x hard fork will be successful as it is supported by the economic majority (almost all large Bitcoin companies) and most of the hash rate (90+%). The old chain might survive but it will become vulnerable to 51% attacks and have very slow confirmation times for a while.

Is it a new hardfork?

They want to persuade 90% of hashpower not to do the agreed-upon hardfork in November.
They want to exert user pressure to get signatories to drop out.
As a NO2X supporter on Twitter rightly said: "NO2X is the new UASF".
Basically, it involves hats, Twitter tags and polls to prove that a large number of people (apparently) do not like SegWit2x.

Will a new coin be created beside BTC and BCH?

Highly likely. Quite likely even more than one.
Core will most likely fork off to create an altcoin that's not mineable by the current miners, by changing the proof-of-work and other bits (like adding replay protection). In this case there will be a new coin next to existing Bitcoin.
The imo unlikely alternative is that they make their Core client compatible with SegWit2x . In this case there is no extra new coin, except the 1MB branch of the fork which could be considered dead unless someone desperately wants to keep it alive (maybe the TRB folks?).