All Superheroes Must Die

Charge, Cutthroat, The Wall, and Shadow awaken in a seemingly abandoned town with strange injection marks on their wrists. A civilian is killed near Cutthroat to prove Rickshaw's claim that a citywide game is underway and innocents are at risk. Rickshaw broadcasts the rules and orders the group to converge at a designated meeting ground, testing their loyalty and abilities.

Rickshaw issues the new game, making it clear innocents will be hurt to prove his point. Charge steps forward to lead the group, while The Wall and Shadow watch the shift with unease and Cutthroat resents the change.

The crew is corralled into a hardware store where Rickshaw forces each member to pick a weapon. They’re then divided into pairs: Charge with Cutthroat head to the lumber mill, while The Wall and Shadow go to the scrap yard.

In the lumber mill, civilians are strapped to lit fuses, and the danger is immediate. Charge battles Sledgesaw while Cutthroat tries to defuse the devices; Charge overpowers Sledgesaw and they cut the fuse, but Rickshaw detonates the charges moments later as Charge saves them from a catastrophe.

In the scrap yard, The Wall and Shadow face Manpower, who wields a flamethrower. The Wall charges when the fuel runs out and collapses without his powers; Shadow, stripped of invisibility, cannot shield him from a fatal strike. Charge and Cutthroat arrive to defeat Manpower, but The Wall is mortally wounded.

Rickshaw executes the trapped civilians and hints at a new 'Bonus Round.' The trio then heads toward a cabin where civilians are held and a chilling trap awaits.

Rickshaw traps them in a cabin and reveals three civilians are held with three coffins and a single gun. He offers a grim bargain: spare one civilian for each of them only if they commit suicide at their coffin. Charge takes the gun and executes the hostages, arguing Rickshaw would kill them anyway and this choice protects the others. Flashbacks reveal Charge's past leadership and the group’s bond, hinting at a closeness with Shadow that was never acted on.

Inside the bar, Rickshaw reveals he has Cutthroat's sister hostage and orders Cutthroat to kill the other two to save her. Charge and Shadow plead for a different path, but Rickshaw injures Shadow and slashes Charge before Charge drives his own knife into Rickshaw's chest. Cutthroat dies in the chaos, and Rickshaw kills his sister in retribution. In the aftermath, Charge confesses his love for Shadow and explains that he never gained powers, aging as time passes, and reveals he can locate Rickshaw by sight but still needs the location of the next TV site.

Charge triangulates Rickshaw's position and leads the team to the next TV site for a final confrontation. Rickshaw forces one to kill the other as part of his cruel game, while Charge instructs Shadow to shoot as if the marked person had died to distract Rickshaw. He then storms the hideout and uses a shotgun on Rickshaw; a failsafe detonates as Rickshaw dies.

With Rickshaw dead, the countdown to the Last Round begins. Shadow stays behind to free civilians and discovers Charge's map detailing remaining coordinates. She locates Rickshaw, helps him to his feet, and the pair retreat as the clock ticks toward zero.

In a brief post-credits moment, Cutthroat's eyes flicker open, suggesting a possible return. The film closes on a meditation about loyalty, sacrifice, and the cost of power as the survivors face an uncertain future.