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Paragon City is a Silver-Age superheroic wonderland—until the reality and terrors of the modern age catch up to its defenders in one awful and shocking moment! Now the defenders of Paragon will find out once and for all what a real hero is in today's world! Noted superhero writer Mark Waid brings you the action, with Kubert School grad and Wizard contest winner David Nakayama on art!
The issue starts out with many heroes known and unknown fighting against the two street gangs the Outcasts and the Clockwork. While the hero-death system is explained (revived by med-teleport). The panel then goes to Lord Relcuse's chamber where Mu-Mystics channel their energies through Paragon City eliminating the heroes' powers and ability to be med-teleported. Hell raises very fast and countless un-named heroes are killed while the Clockwork fail and fall to the ground.
Fastforwarding to Paragon City where a wounded and powerless Sister Psyche is doing petty jobs to stay alive. When Manticore (who is a multi-billionare) shows up to help her. They then go to Synapse's house where his orgin is revealed and the heroes leave with Synapse angry at them. Synapse shows up at Freedom Phalanx HQ to aid them where a message from their leader, Statesman, is triggered and Positron is found. The heroes then go on an all out search for Statesman interrogating many thugs in Paragon City. Eventually the heroes find out where he is and free him from his "apprentices". Soon afterwards Statesman's orgin story is revealed they then journey to see Prometheus.