I had a case open with Mega and they finally escalated to the developers and provided a solution. The MegaSync client is working again 
The steps that worked:
1- Delete the whole MEGAsync folder under /.local/share/data/Mega Limited/
2- Uninstall the MegaSync app
3- Install a new fresh instance from https://mega.io/desktop
Of course, sync and backup had to be reconfigured an a few file version conflicts had to be resolved.
Two dependencies were picked up and a lot of Qt related stuff kept scrolling during the install. It looks like the reason it broke might be because of some severed dependency from when I run arch-update.