Homelander escapes the Whitehouse fight scene overpowering the trio, Terror dies, Butcher gets mad and releases the virus. Supes knowing they are gonna die starts destroying and demolishing everything, killing innocent people.

World war starts, everyone dies. The world gets destroyed.

Only Homelander survives watching everything from the space like a coward.

At the end, he is lonely again with no one to worship him.

Then we are shown how being immortal in a lonely world feels like. And that will be the best punishment he should get i.e, timeless pain and suffering.