Dark Reign was a big event and status quo where the main villain was Norman Osborn, aka the Green Goblin, after he rose from Spider-Man villain to big bad of the Marvel Universe in a role not unlike Lex Luthor in the Post-Crisis. While this was interesting, the finale was the standard "Avengers suit up and defeat the bad guy", when this could've been an event that climatically ended with a final confrontation between two eternal enemies. If Spider-Man had defeated him in the end, it would make perfect sense. Instead, all he did was shut him up with a punch during one of his monologues, but that was after he already lost.
In fact, for all of how Dark Reign elevated Osborn to this big bad villain outside Spidey's smaller corner, it's rather disappointing that Spidey himself remained in that corner the whole time. The elevation of Osborn did not elevate Peter in a way they could've done it. Kind of a missed opportunity.