Macendale has paid some goons to try to attack him so he can re-hone his skills after splitting from the Demogoblin. For details, read issue 84 – there's no way I'm doing that again. It turns out they were Foreigner's men. Foreigner ain't happy that Macendale actually killed them but says if he can fulfil two contract killings, he'll waiver any payment.
As Spidey's swinging across town, a Spider-signal (like the bat signal) shines from the Empire State Building. Spidey investigates and it's Foreigner. He tells Spidey he's sent Hobgoblin off to kill Nick Katzenberg and Moon Knight. He knows Spidey will try to stop him and wants to see if the new(?) Hobgoblin can handle it.
Moon Knight is flying some batwing-type thing across the city when Hobby shoots it down. Hobgoblin moves in for the kill but Spidey and Moon Knight fight back. Hobby goes off when he thinks he's won, while MK and Spidey then go to try to protect Nick. Meanwhile, somewhere else Demogoblin has this six-armed Spider- Man Doppleganger creature.
In theory we're half-way through this two-part story. Of course, the obvious follow-up question is "What Story?" This rubbish manages to simultaneously insult the reader, past readers, the characters, continuity and also the ghost of Steve Ditko. What, Steve's not dead? Wait until he reads this crud!
A rock-bottom half-web. Again!