Prior to this, we learn that Homelander is planning to “reboot the universe” with a live announcement of his second coming on Easter (complete with an empty-chair countdown dig at Marvel). When he finally addresses the nation, the Boys implement their plan to creep into the White House and take him out. Of course, they walk straight into a trap, but are saved by a desperate, rebellious Ashley. They then split up. Mother’s Milk and Hughie take out Oh-Father with Chekhov’s ball gag, while Starlight takes out The Deep by blasting him into a furious ocean. Neither of their deaths is particularly impactful; merely inevitable.
Following a rebuff from Ryan, Homelander is also triggered by the word “Father” in his big speech, and goes off message, threatening America until Butcher and Kimiko arrive in the Oval Office, along with a courageous Ryan, to make their final move. Kimiko, spurred on by that vision of Frenchie, hits all three Supes with a blast that drains them completely. As the world watches, Butcher kills a powerless and grizzling Homelander.
After five seasons, is Homelander’s long-awaited death satisfying? Not really. It’s gross enough, don’t get me wrong, but it’s been such a slog to get here this year, stuffed with so much “I’m god now” nonsense that his death actually feels like as much of a mercy on all of us as the people he’s terrorized.
When someone evil dies, the monstrous things they’ve done don’t just go away; the impact of those actions lives on. We won’t get to see that, so The Boys shows us Ryan’s grim reaction to Homelander’s murder. Meanwhile, Butcher feels nothing after his brief sense of triumph has worn off. Like us, Butcher looks upon Homelander’s corpse and only feels empty inside. Homelander’s Trump substitute (and the man himself) has simply proved that it only takes one powerful, charismatic person to quash the country’s freedoms, greasing the wheels for anyone else who fancies giving it a go later.
The Boys isn’t interested in dwelling too much on any of that. We cut to Ashley taking credit for the plan and immediately being impeached, while Ryan rejects Butcher’s offer to become a family. After Terror passes away in his sleep, Butcher is plagued by the knowledge that Homelander’s death won’t be enough to stop Vought and is unable to rest. He decides to use the virus by loading it into the sprinkler system at the company’s HQ. It’s up to Hughie alone to stop him, and he does. Butcher makes peace with Hughie and his fatal choice before succumbing to a single gunshot wound.
There are happy endings for everyone else. Ryan goes off with Mother’s Milk, Kimiko heads to France to honor Frenchie, Singer is back as President, and Hughie and Annie start their own family. They’re naming their unborn daughter after Hughie’s dead girlfriend, which feels a bit weird, but whatever.