It's pretty clear once they decided to diverge from the comics they weren't so hot at coming up with better storyline. A pretty classic problem "adaptation" series.
The whole "Butcher has an evil brain worm" thing into "nah, he's just Butcher still. But with powers. But different powers from when he had powers." was just so dumb. It looked like the others would really have to decide whether to side with on Evil to fight another, but they just keep softening him up this season so he's clearly the "lesser" evil. Also Starlight and MM were supposed to be hopeful moral beacons and they just went "eh, too hard. Fuck it." Hughie they're obviously trying to toughen up to get him ready to kill whoever he's killing. Kimiko the first few episodes when she talked was dreadful. They explained it away with her learning to speak from TikTok and Reality TV, but it was still the shitty dick/poop/fuck humor of the show just in verbal form instead of visual form. She did seem better the last few episodes.
Homelander is legitimately insane. God complex and delusions of grandeur beyond his capability. He's a great villain with that feeling of tension in EVERY single scene of "oh is the other person going to die?" That's the actual good writing. Whenever some one talks to him, even yesmanning him, you're like "oh they're dead!" Sometimes they are! That's the only good writing.
The Hughie righteous softy shit is so weak. He just sucks when he stops everyone from doing something meaningful because it's morally grey. It's like Batman's don't kill code but way worse.
For a second to last episode, it was more butt sniffing than it was any real building of drama. Soldier Boy conveniently on Ice in Homelanders base? Kimiko MAYBE has new powers? Frenchie, the human who can't make a virus strong enough to kill Homelander is dead? Milk is.. who knows or cares? Starlight helped some people and changed their minds on her? Wowwee!
Last episode is probably like they say fuck it, test Kimiko directly against Homelander, it doesn't work, Ryan shows up, gets his ass beat, but reveals he freed Soldier Boy, who blasts everyone making them all human. Butcher dies anyways to some bullshit. Hughie, after becoming TUFFER, beats Homelander 1v1 and kills him. Kimiko's powers render everyone nearby permanently non-super.
They world goes back to how it was and Stan runs Vought as a Marvel company again. Big baddie out and business as usual.