Spider-Man: Far From Home sets up Mysterio (Jake Gyllenhaal) as a new hero.
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During the film, however, it's revealed that Mysterio is really the villain, like he is in the comics.
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He used to work for Tony Stark and created B.A.R.F., but is sick of the way superheroes acted without accountability.
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He lied about the multiverse, and the Elementals are projections created by him and his team.
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His final plan is to stage an attack on London, killing Sider-Man but making himself the great hero.
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He dies, but records a video framing Spider-Man as the villain and revealing Peter's identity to the world.
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This is similar to Mysterio's debut comics appearance, where he frames Spider-Man as the villain.
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Mysterio is a reminder of he failures of Tony Stark, and of just how crazy the MCU's world is now post-Endgame.
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