I just don't really care for this take on Green Arrow. A mystery villainess is killing off a bunch of GA villains I've never seen before (and I've been reading since Dixon wrote back in the 90s). The problem for me is that the dead guys seem more interesting than most of the villains who have showed up in the actual comic over the past few years! I do like Merlyn, but he's really coming across like a patsy in this story, which I'm fine with as long as the cliffhanger from this issue doesn't come through. I have long stated I hate it when new character are allowed to kill older character just to get them established, and we've got a lot of that going on here (unless they are all new, and then I apologize for the comment). I do know Brick was the main foe for Winnick's run, so while I don't like him, I don't like him being killed off this easily either. I'm pretty sure Count Vertigo works for Checkmate, doesn't he? I didn't think he was out villain-ing it up.
I'm also getting very weird vibes from the relationship between GA and Black Canary. They both seem only barely capable of being super-heroes. They are getting beaten, tricked, and are constantly one step behind everyone else in the comic (villains, cops, etc.). This is a weird comic that actually makes both of its leads look bad in how they relate to each other. If Count Vertigo really didn't commit a crime, and Green Arrow tortured him for info like that? Green Arrow needs to go to jail. Andrew Kreisberg is not really making me like or care for these heroes at all.
Mike Norton's art is fine, but it is not enough to save this story.