This is a comic for people who love classic comics. Let’s start with the “two teams running at each other” cover, which is a classic motif.
And then there’s the story: The Thunderbolts, who are the old Masters of Evil but are called the “New Masters of Evil” (on the cover above the logo), face off against a new Masters of Evil led by Justine Hammer–daughter of the evil industrialist who has caused so many problems for Iron Man.
It starts with the T-bolts (who are, again, rebranded villains) rebranding The Fantastic Four’s home, Four Freedoms Plaza (which is the rebranded Baxter Building).
It’s established that Black Widow supports the T-Bolts–there’s no animosity about them being a new version of The Avengers or taking over the Baxter Building.
From their new base, they identify Black Widow fighting a gang of villains.
That’s Tiger Shark (new look), Klaw, Flying Tiger, and Man-Killer. Their leader is Crimson Cowl…
…Who is actually Justine Hammer.
The Thunderbolts rescue Widow.
Because they’re criminals and she’s a spy, they are concerned that she’ll figure out who they really are.
And then there’s the big rematch.
The villains escape, and at the end of the issue, a girl in a ragged dress shows up at Four Freedoms Plaza. She will be identified as Jolt in the next issue.