BUR #6768 has been approved by @evazion.
Right now whenever someone adds butterfly, ant, fly or one of the other big insect tags to a post, three tags in total are added, because insect and bug are pulled by the net of implications.
insect makes up 95% of the bug tag, so the distinction is frankly useless. I think the two tags should just be aliased.
These tags were already mass updated in topic #1327 12 (!) years ago, and even then it was agreed that it doesn't really matter for us which one we use so long as we're not trying to re-enact an entomology book.
Also relevant, forum #180321.