The Hobgoblin is revealed to be Flash Thompson! No!
Of course not.
Good question, Spidey! Because he did! But not for many years when Roger Stern is finally allowed to write the Hobgoblin ending the way he wanted to. In the meantime, though, we still don’t get closure as there’s a new Hobgoblin in town by the end of this very arc.
This is also the “gang war” arc, which features Punisher.
And Daredevil in a fat suit.
Creators: Tom DeFalco and Ron Frenz