I was just complaining about this a few days ago in another thread. Upon rewatch, the entire 2 part episode/movie is narratively centered around changing the status quo and putting the pieces in their new positions - and then immediately undoes itself. It undercuts its own premise and Riker is never the same.
They had Frakes under contract, so he wasn't going anywhere. If Stewart had decided to leave it would have been a different ending, but ultimately it had to reset to status quo ante. So is it satisfying under those constraints?
I think it mostly works. He shows to himself that he can be the captain and make the big decisions. But he also decides that it's not what he wants right now.
The underlying theme of the episode is self-determination. Picard is denied his by the Borg, and Riker is also being pressured by groupthink to do something he doesn't want. Picard orders him to reconsider his position.
In the end, he decides his reward is to go back to that job he loves, and he doesn't feel the need to prove himself to anyone else.
The main weakness with the second part and Riker is that Shelby kind of disappears, at least as an antagonist for Riker, so there isn't really a pay-off there.
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