On one hand, it had a fabulous, exciting plot, with lots of twists and adventures and fun. I loved the 1920s New York setting, and how this time it was almost entirely dealing with Dragon politics, with just the odd Fey thrown in to make it exciting. Cogman has a particular genius at setting up those scenes were all the characters she's been picking up along the way collide at just the right moment, and then there's an explosion! I loved watching Irene pinball through the increasingly complicated and dangerous situation, and the section where Kai had to emulate her by running his own side mission was a highlight.
I'm hoping the next mini-arc will be about dragon politics, as I find them more fun than the fey, and I liked a lot of the characters this book introduced.
On the other hand, I feel like someone, preferably her editor, should tell her to lay the heck off on the similes and other related writing tics. I'm sure if I'd been counting, there would have been a simile every other sentence, and that is too many. There was also a little too much description/over explanation of Irene's reasoning on her choices. Part of it felt like not trusting the reader to remember details (and granted she had a lot of stuff in play), and part of it felt like a compulsive need to just list every possible option the author had come up with.
Finally, I started this series with the feeling that the majority of the characters were bisexual, and that the relationship options were relatively open. By this point it seems like the majority of the characters are bisexual, but the only on-page relationships were actually going to see are male-female. Disappointing. I'm just not really feeling another buddy cop m/f romance in my SFF, and romance isn't Cogman's strong point, really.