Without AC, it is impossible to prove that every set is equipotent to an ordinal (in ZF !) and it is impossible to prove that a functor is an equivalence of categories if and only if it is full faithful and essentially surjective ; so I guess that a lot of things are wrong without AC, in particular concerning combinatorial model categories because very often we have to use transfinite cardinals.

Without AC, it is impossible to prove that every set is equipotent to an ordinal (in ZF !) and it is impossible to prove that a functor is an equivalence of categories if and only if it is full faithful and essentially surjective ; so I guess that a lot of things are wrong without AC, in particular concerning combinatorial model categories because very often we have to use transfinite cardinals. For example, "Implications of large-cardinal principles in homotopical localization" or "Definable orthogonality classes in accessible categories are small" for links between large cardinal axioms and Bousfield localization.