While not quite up to the exceedingly high standards of the past few installments, "Subtext" was still a solid installment, featuring the introduction of another longtime Spider-Man villain - Molten Man, who had never been used in any Spider-Man adaptation before now.
Of course we'd already sorta/kinda met Molten Man several episodes before, via his alter-ego of Mark Allan. As it turned out, Mark was still gambling and getting into dangerous waters with Blackie Gaxton, his bookie. Meanwhile, Blackie found out he had a new boss, Green Goblin, in a scene that did a great job of making Blackie one cool cat - the dude basically rolled with the punches, and seeing it was pointless to try to stop the Goblin, agreed to work for him.
With Blackie as the go-between, Mark was brought in as the next supervillain test subject for Norman Osborn - with Miles Warren showing just how corrupt he is, as we saw him having no qualms transforming humans into who knows what - and blackmailing Curt Connors into staying quiet, using his knowledge of his Lizard days, after Curt found out what he was up to.
We also learned Norman Osborn and the Green Goblin are now apparently working together - albeit not seen together. Hmm Wonder why that is, huh? I do have to say though that Green Goblin's "disguise" of a trenchcoat and a hat at the race track was pretty ridiculous - given that he still was a guy in a green goblin costume.
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