I think the only thing that is pretty clear right now is that Metal Knight is playing some bigger game.
The way it is foreshadowed makes me believe that Genos himself is the Mad Cyborg, who was developed by Metal Knight, went mad and destroyed multiple villages. Later he was recovered and altered with wiped memory.
I feel like if Metal Knight really wanted to know more about Genos' technology, he would have scraped him off the floor after one of his lost battles and just helped him recover.
On the other hand, Drive Knight might be completely truthful when he talks about the Mad Cyborg destroying his village and Metal Knight being interested in his tech. Metal Knight is probably hiding some involvement in the Mad Cyborg, and Drive Knight has been antagonizing him ever since he found out.
Another thing that seems a bit weird is how Blue's battlesuit/augmentation looks a lot like Genos. Especially around the arms, hands and eyes.