This one-shot told of what Ms. Marvel was doing in the House of M universe. The event is over so this feels even more pointless than the contemporary tie-ins that told stories of a fantasy universe that never existed.
Not sure who is real here and who are figments of Ms. Marvel’s projection into that universe, so I just tagged her and Sir Warren Traveler, who apparently was created in the House of Mverse but who will be featured later in the 616. In that fake reality, he is Ms. Marvel’s “longtime adversary.”
They fight in this issue.
For the framing sequence, Carol is looking out at the city from a balcony, remembering the events in House of M. Her memory of the House of M universe motivates her to be “the best of the best” because she was a huge celebrity there.
All this is really just a platform to launch the Ms. Marvel series in May. It could have been issue #1 of that book.