To begin with, note the specific description of the Hells Angels:
4. Plaintiff HELLS ANGELS MOTORCYCLE CLUB ("HAMC") is now, and at all relevant times was, a non-profit mutual benefit corporation organized and existing under the laws of the State of California. Plaintiff HAMC is the owner of the trademarks described herein, which it administers on behalf of, and for the benefit of, the Hells Angels Motorcycle Club.
It just gets better as the complaint goes on to describe the incontestable trademark registrations; the infringing items; and so on... without ever stating what, precisely, is being diluted or otherwise infringed.
It's not quite as amusing as the thought of serving brownies at a rally for Proposition 19, but it's close.