Soldier Boy (Jensen Ackles) was the Boys’ clearest bet to take down Homelander so far, but alas, it was not to be. Butcher ends up turning on Soldier Boy to protect his son, Ryan. When Soldier Boy is about to give off that sonic blast that would depower all the supes in the room, Maeve chooses to tackle him out of the building to save everyone’s lives, even Homelander’s. The last time we see Soldier Boy, he’s being put back into hibernation in the same sort of cryogenic chamber the Boys found him in. Soldier Boy is probably coming back eventually — given his parental relationship to Homelander, it seems insane to end his story here — but for now he’s left the chat.
Meanwhile, Homelander basically wins the season 3 finale. He reconnects with his son, solidifies an alliance with Neuman, and watches as his enemies basically collapse in on themselves for reasons that barely have anything to do with him. With Temp V no longer an option for the Boys and Soldier Boy out of commission, Homelander’s now as dangerous and unchecked as he’s ever been.
Even more ominous is his closing scene where he rashly kills a man in broad daylight, surrounded by fans and news reporters. It initially seems like the secret’s out — that now everybody has seen through the mask to the monster Homelander truly is. But no: turns out, Homelander’s fans actually like this. They cheer him on, as a stunned Homelander slowly starts to smile. Beside him, his supe son Ryan starts to smile as well. Uh oh! Somebody needs to move the Doomsday Clock closer to midnight, because this isn’t looking good.