KRAVEN THE HUNTER Ending Explained
Kraven the Hunter, like Madame Web, is a "standalone" story, thus Morbius and The Vulture don't ask him to join their squad to "do some good." However, the film sets up a sequel.
Kraven is defeated by Aleksei Sytsevich and The Foreigner in the final act. They've stolen Kraven's beloved brother Dmitri, leaving him and Calypso to prepare for a losing struggle. The Foreigner's hypnotic powers stop Kraven from attacking Sytsevich's thugs, and the Hunter thinks he's surrounded by spiders. Calypso kills the villain with an arrow to the head.
Kraven approaches Sytsevich, who confesses that Miles Warren, better known as The Jackal, helped him become a mutant Rhino-man. He then transforms into the comic-accurate baddie. After a fight, Kraven kills Rhino and assumes his father, Nikolai, planned the killing.
After a conflict, he lets a bear kill his beloved dad, but he subsequently discovers that Dmitri has chosen to become The Chameleon and take over their father's kingdom. He can now morph into anybody he wants thanks to Dr. Miles Warren, and The Jackal is probably just giving out superpowers to whoever asks because it's easier than doing origin stories. In the movie's closing scene, Kraven the Hunter wears his comics vest and plans to kill his brother for becoming a mobster like the ones he's been hunting.
Kraven and Chameleon could face off in a sequel, but it's unlikely. Since Warren was supposed to develop animalistic opponents for the anti-hero, we may have avoided a mutant Scorpion and Doctor Octopus.