Lots happens this issue. Lots. Also not lots. It’s a very particular kind of comic, where the heroes find out what the villains have been plotting. A revelation issue… but for the characters. There’s probably a term for it. Sort of a diegetic revelation issue.

Anyway, it also has Frank getting his head straight—courtesy a shotgun blast to his chest (and vest)—which means he’s an active character not a passive player for Ennis to move through the events. It’s nice to have him back. You got worried about him last issue, as did O’Brien; this issue has a wonderful conversation between O’Brien and Frank. She does most of the talking. Fernandez and Hanna do the talking heads well, all things considered, though it’s hard not to notice the only time Fernandez can pace out a conversation is when the people are naked.

This issue has—probably for the first time, but who knows—Frank making the beast with two backs. It’s a great moment. Ennis has really got Frank down at this point. He’s comfortable writing him, not restricting the kinds of scenes Frank gets to be in. I guess if you’re writing Frank Castle playing kindly grandpa, it’s not too difficult to roll him in the hay.

Speaking of rolling in the hay, Nicky—who survives the showdown (all of the main cast does, there’s another issue after all)—gets the wrong roll in the hay offer, which ties directly into the issue’s cliffhanger. The plotting is shootout and resolution, escape, Nicky following, Frank and company interrogating a captured bad guy (Frank getting results thanks to it being a MAX comic), some shagging, then the cliffhanger. It might be the best art in the arc so far, just because Fernandez doesn’t screw anything up majorly enough to notice it.

It’s real impressive how Ennis has plotted this arc; he’s got all these threads he can wrap up in the fifth issue and prime the arc for a great finale. Especially when you consider Frank’s been on autopilot for most of the arc so far. He wasn’t even in the Nicky issue. The Frank narration, sparing as always, jars the comic’s narrative focus back onto him. Great character development on O’Brien too.

Up is Down and Black is White isn’t pulpy; it’s a straight Punisher MAX comic, much more in common with the first and second arcs than the third, but Ennis has definitely learned from doing the pulpy, long present action arc; it informs this one. So good.

The issue opens with one of those good Ennis ideas not explored; two guys breaking into a closed jewelry shop and terrified by the thought The Punisher, who’s (apparently) never cared about the non-violent street criminals, now does cares about them. Since he’s gone spree. Spree-er.

But it’s just the one-page opener, nothing Ennis wants to explore. Next up is Frank living in his dream, a dead world, everyone killed by him, and finding there’s still no peace for him. Presumably. Frank doesn’t analyze his dream, just regrets closing his eyes. Ennis then takes some time to catch up with Frank’s perspective on everything. Frank might not analyze his dreams, but he does analyze his feelings. Or at least he acknowledges he has feelings he could be analyzing if he weren’t trying to kill enough people to get a specific action from the city.

Speaking of the city, Ennis has what would be a great talking heads scene with the city brass yelling at each other about what to do with the Punisher. There’s a couple more tidbits of information—the cops don’t just go after Frank because, while he doesn’t do collateral damage, they would, and then how the city just looks the other way when Frank keeps the weekly kill count at a dozen. They just want a politically acceptable way to give Frank what he wants, because once Frank has what he wants (they think), he’s just going to go after Nicky.

And they’re right. They give Frank what he wants and after Nicky he goes. Right into a trap. Knowingly. Reflecting on it as he does, this one final act, so driven by a different kind of rage than normal he can’t stop himself. Even though Frank doesn’t think about it so Ennis doesn’t write about it (and there’s no one for Frank to confide in, thank goodness), there’s this “man’s gotta do” subtext to the whole thing. The Punisher undone by ingrained toxic masculinity.

Meanwhile, O’Brien and Roth have started staking out her ex-husband, CIA killer Rawlins, finding him not just conspiring with mobster Nicky, but also cavorting with him. Given the second issue of the arc… there’s a definite statement to Nicky being a passive, enthusiastic bottom in the sack….

Anyway, Rawlins isn’t just there for the hanky-panky, they’re teaming up to take out Frank.

Good thing O’Brien’s got horribly valid reasons to get the drop on Rawlins. But will she be in time? And would she help Frank if she were?

None of the art is good. Some of it is better than the rest of it, but it’s rather disappointing Ennis turns in this great script—building action versus last issue’s bridging action—only for Fernandez to fumble through it. Hanna’s inks… probably help. But who knows.

The scenery’s good? The scenery’s important. It’s good. Sadly the people aren’t and they’re the most important thing.