This issue's story is largely about the fact that in issue #1, Booster Gold failed while fighting Mindancer. He failed publicly, and the media is eating him alive. A lot of people who are involved in Booster's life as a commercial product are pretty ticked off at him because of this. Booster does a have a few folk that are sympathetic to him, but overall, he seems to feel alone. He tells Skeets: "I went into this thinking about the money and the celebrity. I knew the media was going to make me - but I never realized they'd just as soon break me. We're a little out of place here, Skeets and we can't even go home."
Mindancer was able to take STARs satellite guidance system from Booster without too much trouble. Booster and Skeetz realize this and attempt, in this issue to deal with Mindancer in such a way that they can avoid the same mistakes. However, it seems the villains have developed a new strategy, too, involving Blackguard destroying Skeets. Mindancer is clearly the more formidable opponent of the two, such that even those who have hired Mindancer and Blackguard are exasperated with Blackguard's own failings.
The question on the cover: Can Booster defeat Mindancer and Blackguard before Skeets is destroyed? -- isn't answered in this issue. You gotta keep on reading to find out.