Be careful how you handle with anti-indexing tools. With Google AI Overviews and other AI references, it might harm your chances. Especially if you are into GEO, which is Generative Engine Optimisation. A method to list your content in AI reference and answers.
It doesn't matter what I think, people are already doing this and with good results. It is going to improve in coming days. Just like mobiles taking over computers.
llms.txt is helpful if you want to skip certain content from LLMs. It is up to you which to expose and which to block. 
It is slowly getting into SEO audit tools. It will be soon. Nevertheless it is good to have a clear definition for bots, regular or AI.
It uses Markdown, here is an example
This is the basic structure
# Title
> Optional description goes here
Optional details go here
## Section name
- [Link title](https://link_url): Optional link details
## Optional
- [Link title](https://link_url)
Just like robots.txt, root.
What do you want me to explain? It is simple, no? Where to add it.
An H1 , that is Project name
A block quote - a short summary of what your website is about
That's all to be minimal. You can add H2 for links that you want to declare on llms.txt
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