Just an early warning that there could be spoilers ahead for the entire show, and especially this season.
The Final
At the end of the last episode, we see that Johnny has re-opened his own Dojo, and Cobra Kai is back to how it was. He, as a character, is still the same guy, but he mentions that his students will be divided with Daniel, where they'll learn defense, while he focuses primarily on offence.
To be honest, the final episode just made me and Aimee want to go back and restart the show from the beginning. Seeing how far they came, and thinking about everything that happened throughout the entire run of the series is crazy.
So many times there were betrayals, friendships lost, and found, and mortal enemies identified, only to work out their differences. It really did a good job of capturing chaotic teenage years.
It was actually really good that there was a split too, where Cobra Kai fought in the finals. What was also a great choice was having Johnny fighting - and winning - the final match.
The show after all is called Cobra Kai, so it was great to see the dojo being reclaimed.
Potential Spin-off
In the final few minutes of the show, Johnny is talking to his class of students, with a few of the side characters up front, one of which being Le Roussos's son, who didn't get a whole lot of screen time in the show as a whole.
Now, it seems that Sting Rey and Johnny could potentially head another series, helping to bring us in with familiar phases, who would most likely be phased out to make way for new characters, a new story, and new drama.
I doubt Johnny and Danial would be major parts of the show, and potentially, they could come in as special guests here and there throughout the series, until it had legs of its own.
Most people wouldn't want to dedicate decades of their lives to a project when other opportunities exist. But, who knows? Maybe they'd be happy to play larger roles in a spin-off, considering they enjoyed the last series, and like their characters.
A Good Premise
Cobra Kai worked for two reasons. Johnny was a likeable down-and-out character with nothing to lose. Miguel was a likeable underdog who most of the audience could back. Those two made a good team.
Adding in Daniel, Crease, and Silver throughout the run time was great too, because there was always an antagonist around each corner.
Without good antagonists, it would be hard to make a new show compelling, and without some good characters with some sort of adversity, it also wouldn't be compelling.
There would be options for them to make a decent spin-off, but it would be a hard feat. The hardest part about it would be doing something new, but similar, without it feeling repetitive and stale.
I just had the feeling they were setting it up for some sort of spin-off, but I could be wrong.