The narrative of Episode 10 of The Sandman Season 2 unfolds with a harrowing scene: Lyta, in a trance-like state, bringing down the sword upon Able. As the blade detaches from her grasp, a semblance of her consciousness flickers back, only to be cruelly extinguished as the Fates compel her to reclaim it, rendering her a marionette once more.
The grim saga continues with Mervyn and Matthew in its crosshairs. In a desperate bid, Mervyn unleashes a hail of bullets towards the four fate-bound women, but the projectiles rebound lethally, claiming his own life instead. Meanwhile, Corinthian, Daniel, Cain, and Lucienne seek refuge in the throne room, with Matthew narrowly escaping to their side.
Morpheus remains ensnared in Faerie, where Titania offers him a sanctuary he cannot accept. Nuala, invoking her boon, forces him back to his realm, and he arrives just in nick of time to rescue his palace gatekeepers. Welcoming the ladies within, he reunites Lyta with Daniel, only for the Fates to intervene, freezing her in place and declaring Daniel's humanity extinguished. Morpheus manages to briefly liberate Lyta from their icy grip, yet she remains trapped within the Dreaming. Desperate, the Fates reiterate their stance, insisting Lyta has lost her son and must seek vengeance. Without Lyta, their power wanes, forced into retreat until another petitioner steps forth for his demise.
Driven by urgency, Morpheus dashes into the Waking World, intent on terminating Lyta, only to find Hettie standing as her guardian. Armed with a bargain, Hettie reveals her deal with the Fates—meddling in exchange for her life. She contends that Morpheus is not a murderer at heart and that Daniel's cooperation would falter if his mother met her end. Morpheus concedes her wisdom.
Elsewhere in Faerie, Nuala yearns to venture into the Dreaming, pleading with Cluracan to strip away her glamour. Reluctant to lose her, as he stands alone, Cluracan eventually relents, their parting tinged with bittersweet sorrow.
On Earth, Goldie and Delirium capture all attention as they embark on their quest to locate Barnabas. In a bid to conceal Goldie, she is transformed into an inflatable balloon, a disguise deemed unassailably clever in her eyes. Meanwhile, in the realm of the Dreaming, Morpheus solemnly announces to his subjects his impending journey to the farthest fringes of their world, a mission fraught with finality. Understanding that this marks their farewell, tears stream down their faces as they bid him adieu, save for Matthew, who steadfastly stands by his side, aware of the perilous nature of his own fate. As they convene, the skies open up, and rain begins to pour as Daniel, Lucienne, Cain, and Corinthian take refuge in the throne room, anxiously attempting to ascertain Morpheus's wellbeing. Death arrives on the scene, opting to await their next move alongside them.
Morpheus, having reached his wits' end with the destruction and suffering wrought upon his realm by the females, vows to confront them head-on. The Fates mock him mercilessly while Lyta continues her reign of terror, further weakening Morpheus. Realizing the dire straits they find themselves in, he tasks Matthew with fetching Death.
Elsewhere, Titania bestows a sword upon Nuala, urging her to rush to Morpheus's aid, convinced of her pure intentions towards the Dream King. Death arrives at the Edge, puzzled by Morpheus's apparent surrender. Morpheus confides that he seeks redemption for his son's murder and acknowledges that the Dreaming, despite being his prison, is a responsibility he cannot shirk. Just as he's about to accept Death's offer, Nuala intervenes, extracting Lyta from the Dreaming. A luminous connection sparks between Death and Morpheus's outstretched hands.
Goldie vanishes mysteriously, while Hettie tends to Barnabas. They encounter Delirium, and Hettie expresses remorse for her losses, prompting Barnabas's curiosity. Delirium reveals that she can no longer sense Morpheus. Hettie returns home to confront Lyta, who longs for Daniel's return. However, Hettie asserts that Lyta has forfeited her chance; Daniel can never be hers again, having caused irreparable harm to Morpheus.
Within the Dreaming, the realm begins to mend itself, sparking wonder among its inhabitants. The true architect of this miracle is unveiled: a grown-up Daniel (played by a cameo from Jacob Anderson), who has assumed the mantle of the new Dream King.