Yeah, final episode definitely felt anti-climactic. Why even have that (admittedly minor) development for Black Noir to have him die instantly? Why did A-Train do fuck all in this episode? What even is The Deep's storyline? We haven't even seen Giancarlo Esposito in an episode since he just bamfed out stage left like 3 episodes ago.
Why is neither the Soldier Boy, Neumann, or Homelander "triangle of powerful villains" not even partially resolved? The only person's arc who seems remotely finished might be Maeve.
But even then, I imagine that she'll be back superpowered once The Boys all have to inject permanent V to fight Homelander, which is something I thought should have happened at the end of this episode because The Boys would be on the brink of death. At the end of the day, M.M., not suped up at all, survived a fight in which Soldier Boy and Homelander were both on the opposite side. Frenchie brewed a nerve gas in minutes. Butcher apparently doesn't die immediately from his 5th dose of TempV, he has 12-18 months left to live, removing the immediacy of finding a solution to that.
Ryan's flip to being his daddy's sycophant and that chilling smile seems out of nowhere too. He had a stable figure in Grace, and it seems weird to me he immediately ran to Homelander for a few platitudes. Did Grace never explain to him the psychosis of Homelander?
All in all, it felt like they were like, "Oh, let's extend this out for more seasons." Hopefully they make a definitive end to this series, and not drag it out for years and years, because that's where stories always fail.