Animal Man visits John Starr in hopes that he can help him find the key to time travel, so that Buddy can prevent the murders of his wife and children. Animal Man teams up with Booster Gold to go after the Time Masters!
Psycho Pirate has found (or managed to create) his medusa mask that allows him to control other people's emotions. He puts it on and we see that he has created a veritable treasure trove of multiversal items; including copies of The Flash #123 and Watchmen #1, a Devo record, a Daily Planet newspaper with the headline Mondale Wins, a wanted poster of Abraham Lincoln and a picture of Adolf Hitler with the American flag.
Pirate claims that it's time for the grand finale and goes walking through the halls of Arkham. We find that he has also begun creating various heroes and villains that were wiped out during the Crisis on Infinite Earths. He walks past Johnathan Crane's cell, but refuses to let him out; saying that he's sick of fear. Pirate enters a room where various characters have gathered. Some of them (especially Ultraman) are having a hard time with having been brought back to life. Psycho Pirate uses his powers to calm them down, and tells them that they didn't really die; they were just in his head the whole time. And now they're all coming back.
The two yellow aliens who gave Animal Man his powers have brought Dr. Highwater to Arkham Asylum against his wishes. The aliens tell him that they have no choice in the matter and that they have to play their assigned roles in the story. Highwater is surprised to find that several different versions of Arkham are shifting from one to another. The aliens explain that lost worlds are returning and that soon the unified world will be torn apart. Highwater asks about Animal Man whom the aliens had said was important. The aliens tell him that Animal Man is in the continuum, but he is out of reach. They must do what they can.
Meanwhile, Animal Man has traveled to the past and is sitting at an outdoor cafe in San Francisco with the Phantom Stranger, Etrigan and the Immortal Man. (Vandal Savage was supposed to be there, but he was too busy founding a desert cult.) Phantom Stranger explains that Buddy has recently suffered from a tragedy; the others want to hear all about it.
Back at Arkham, Psycho Pirate appears to be having trouble vomiting up the multiverse.
In the past, Animal Man tells the others about how horrible the future turns out to be, and all discusses his family's death. He tells them about a weight on his and and figures that it must be the time machine that he used in the future. Etrigan tells Buddy that humans were not made to travel through time; if he stays in the past the shock will eventually kill him. Animal Man remarks that he would rather be dead, but Etrigan kills a butterfly and makes a speech about how life is worth living and we ourselves make it a heaven or hell. Immortal Man helps by pointing out life goes on and he can't help them by dying inside. Buddy closes his eyes and thinks about the difference between life and death. He thinks about the destruction of the environment and how people can take a stand; and with that he disappears. The three immortals toast to the coming decade.
In the present, Psycho Pirate has begun to wear himself thin and is turning transparent, yet more and more characters keep appearing. The latest is a horrible alternate version of Superman named Overman. Overman contracted an STD and went crazy, killing all his earth's heroes. Psycho Pirate tries to keep him contained and thinks that he succeeded, but we see Overman behind him, totally deranged and clutching a gigantic bomb.
Dr. Highwater and the aliens have walked through the halls of Arkham Asylum until they reach a door. Past the door is where the aliens say the breach will occur. They open the door and we see an almost totally transparent Psycho Pirate rousing the recreated characters by offering revenge on the people who killed them... Us. While Pirate is talking, Ultraman notices the panel border and begins to push on it. Power Ring tries to stop him, but Ultraman ends up in the white space between panels. The insane Overman is giggling that he has the bomb, while Psycho Pirate looks directly at the reader and says that he's coming to get us. One of the yellow aliens remarks that the death of reality has come, and asks where Animal Man is. There's a flash of light from behind, and Animal Man appears with the other alien. Buddy tells that that everything is okay. He's here...