In the second episode of Stranger Things' fifth season, the suspense escalates as Holly is relentlessly pursued by the Demogorgon. She dashes into the bathroom, urging Karen to join her underwater as a refuge. As Ted arrives with a golf club in hand, he witnesses the creature up close and attempts to confront it with little success. Karen, on the other hand, puts up a valiant fight, repeatedly stabbing at the Demogorgon with a shattered wine bottle.

Yet, the monstrous creature proves to be relentless and brutal, leaving both Ted and Karen gravely injured and rushed to the hospital. Holly, meanwhile, is whisked away into the Upside Down before the portal slams shut. In a desperate bid to rescue her, Eleven leaps through the dimensional rift.
Nancy, accompanied by Mike, arrives at the hospital weighed down by guilt, convinced that she should have prevented this outcome, having witnessed similar visions in the previous season. Mike tries to reassure her, but Lucas interjects, unaware of the protective plot armor surrounding each character. He reminds them of the date—November 3rd, just three days away from Will's disappearance anniversary. He's convinced, like many others, that they'll find a way to bring Holly back, even if it seems like an eerie coincidence.
The military soon descends upon the Wheeler residence, imposing a quarantine as they believe they may be on the cusp of locating Eleven, who is undoubtedly wandering in the Upside Down. They even possess photographs of her, which Dr. Kay eagerly studies.
Among them all, Eleven manages to stumble upon Hopper in the Upside Down, who is out in the woods. She seizes his flashlight, and together they embark on a hunt for the wounded Demogorgon.
Naturally, Hopper continues his protective fatherly routine while El maintains her composure and continues to track the Demogorgon's movements. As they traverse the train tracks, El notices Hopper's injury and assists in patching him up. Their conversation delves into Hopper's deep concern for her well-being, especially after the events with Sara, reinforcing their understanding that nothing in this world can be relied upon.
As they venture closer to the edge of the Upside Down, they encounter a towering, imposing wall. The question lingers: Are there undead White Walkers lurking behind it?
In the real world, Joyce speaks with Will about the visions he's been experiencing, which he now perceives as dreams but in the Hive Mind's perspective. Will is convinced that the connection with Vecna has never truly been severed and that he is now closer than ever before. Robin believes her goosebumps serve as an antenna, guiding them towards Vecna's location. The more intense her reactions become, the closer she is to him.
Will is steadfast in his belief that this is the right approach, though Joyce is hesitant. She views this as reckless, especially in light of the Mindflayer incident from season 2. She suggests a more prudent course of action would be to restore the radio signal.
Outside, Jonathan lashes out at Steve in a heated argument over their competing affection for Nancy. Amidst their bickering, Dustin appears, sporting a bloody nose, and is informed of the situation after Steve chastises him for getting into a fight.
At the hospital, Mike speaks with Nancy about his thoughts and chimes in that he believes Holly's imaginary friend may be real. He doesn't want to be haunted by regret for not acting on it and thinks Karen might hold the key to finding her and learning more about this enigmatic figure.
The duo concocts a daring plan to sneak in and see Karen, with Ted in a medically induced slumber serving as their sole beacon of hope. Clad in nurse and patient attire, they breach the premises in a classic undercover operation. Nancy and Mike engage in whispered conversations with their mother, while Karen scribbles down her thoughts with a trembling hand. Meanwhile, Will reaches the same conclusion with Robin, believing he has witnessed the truth through Holly's eyes, specifically from the carousel's periphery. This revelation sheds light on his spinning and eventual collapse.
In this moment, we discover that Holly's imaginary companion is none other than Henry, her guiding light who promised to save her from the monsters. Henry has been leading her to his house, a sanctuary where he vows to protect her from the darkness that lurks outside.