We get some answers which raises more questions.
We open with the preview pages, X weeks after the gala. Xavier's beard has become unkempt as he stares blankly, replaying the horrifying events of the gala in his mind. He believes he killed all of the mutants he forced through the gates.
We rewind a bit to the day after the gala. Shaw is in an office building in NYC talking with his new assistant, Siobhan. He prefers to call her Tessa. He injects himself with a device that supposedly makes him no longer a mutant, a show of faith to his new partners in Orchis. He asks "New Tessa" how rich he is but when she checks his accounts they are unchanged. He grows angry as she tells him that while he owns Krakoa the island, he does not own the nation's finances. He storms out and then barges into the Hellfire Club. He goes into his secret room where he summoned Mother Righteous previously and does so again.
Hellfire Club guards enter and order him to leave immediately, their guns pointed at him. As he's being escorted out New Tessa tells him that she found out who owns the finances of Krakoa and that it's Wilson Fisk. He spits out the whiskey he just grabbed and Emma (as the classic White Queen) psychically appears, towering over him. She essentially gloats for outsmarting him and says she did it for the children while he did it for the cents.
Emma disappears and he tells NT to start arranging meetings as he wants to begin the exploitation of Krakoa immediately.
Back in the present, Shaw is sailing on a yacht with Selene and NT. He's demanding to know why his plans for Krakoa are stalling and one of the guards explains that so far all personnel that have been sent to the island have seen monsters on it and are too scared to proceed.
Back on Krakoa Emma reaches out to Xavier telepathically. She tells him that he can't keep ignoring her and that she's worried about him. She knows he believes all the mutants are dead but that they can't be sure of that so they shouldn't give up. She's reached out to Strange, Reed, and T'Challa for help with the missing mutants but so far nothing. Xavier tells her their children are dead and to leave him alone. He then starts to hear psychic chatter elsewhere on the island. A group of Orchis soldiers arrives on the beach via a small boat. They don't make it very far before they encounter four huge monsters, running back to their boat terrified. It's Xavier, psychically creating the image of the monsters. His narration box tells us he will not let the memory of the lost mutants be desecrated by those who bathed in blood. "No more. No more. No more."
The final scene takes place in a desert, "nowhere, no-when." Exodus, Hope, and Destiny find themselves in this strange place having just come through the gates. Destiny yells "NO!" and says she can't see the future, that there is nothing but white space. She asks if Raven is there and starts to freak out yelling for her wife. Hope slaps her (for all of us!) and tells her she has to pull it together.
Exodus walks up a dune telling them that there are 250,000 minds present with them. None of them are Mystique nor the rest of the Five. As he looks over the dune we see the population of Krakoa. Exodus confirms that they were all meant to arrive on Arakko but instead they're in this desert. Hope says most of them don't have useful mutant powers, they don't have food, water. She asks what they're going to do as she holds and comforts a crying Destiny.
Exodus calls out to the people, the sun's light behind him glinting off his headpiece. He says they will survive the desert as he did long ago, they will be transformed like he was. He says they are mutant pilgrims and he will lead them to the promised land. "We are the people of Krakoa. We only have each other. We have only ever had each other. And whether we live or die, we will live and die together. This way. Follow me."
The issue ends with a quote written by Exodus, similar to Exodus 16:2. "If only we had died by Orchis' hand! In Krakoa, we sat around pots of plenty and ate all the food we wanted, but you have brought us out into this desert to starve this entire assembly to death."