Flashback to the Five. They're planning on reviving Wanda, but it seems that her memory escapes Cerebro and revives itself. Wanda revived herself naked which, you know, good for her. Love your body and yourself.
Later on. Billy and Tommy know that something is fucky with their Wanda (Past Wanda), since Tommy saw his mom's corpse and knew she was dead. Prodigy explain show they found Wanda strangled by metal, and Billy says that it's possible the metal was actually enchanted. "Just because Eye-Boy didn't see any enchantment residue on her remains doesn't mean the metal itself wasn't enchanted." They join Northstar and co. making dinner; they have to look at the case again from a magical perspective.
Back to the present. Billy figures out that the kaiju are magic. He and his superior brother take the Scarlet Witch away
Meanwhile, Wanda battles Old Woman Wanda in another realm. OWW is beating up Wanda and asks Wanda if this isn't what she wants: someone to punish her for her sins, and absolve her. She says that Wanda needs to let go of the guilt she feels, because it's eating her up inside and manifesting as the kaiju.
Past Wanda, meanwhile, is having a breakdown and lashing out because she can't accept all of this. Speed gets mad and says that this is why people don't trust her, and why they're afraid of her. Billy cries that he's spent his whole life defending his mother. He says that she made these creatures, because she refuses to take accountability for her future.
OWW convinces Wanda to forgive herself, while Past Wanda decides to do something about the chaos she created. The past, present and future versions of Wanda sync up. All three Wandas return to the fight and fight the kaiju. Having reconciled her past, present and future, the monsters are easier to fight.
More X-Men show up to fight the monsters, even the war captains. (Hellion's not there, but I'm assuming he was too busy starring in vanity projects in Mojoworld.) The monsters are defeated, and OWW & Past Wanda fade away.
Wanda has a reunion with her dad and kids. She begins to apologize to Krakoa, when this lady who looks like Ellen DeGeneres calls her out for making the monsters in the first place. Wanda says that she can explain, and says that she knows who attacked her.
TL;DR: Wanda has to take accountability for her actions, but also forgive herself and learn to let go of the past. Only by accepting all parts of herself can she take the first steps.
The Krakoan at the end reads "THE ACCUSED."