Oshi no Ko's ending is unironically indefensible
Yes, I said indefensible. And I am going to prove it.
There are essentially two angles with which some people are trying to justify this ending, and neither of these work. The first one is this:
"This is a heroic sacrifice. Aqua has to die to protect Ruby. It's so sad and noble. Not every story has to have a happy ending you know?"
Why doesn't this work? Because Aqua doesn't have to die. There are a million and one ways to get rid off Hikaru and protect Ruby, that doesn't require Aqua to die. What's worse is that Aqua himself knows this. This isn't some hidden knowledge only revealed to the audience but kept from the character himself.
He has two willing and capable accomplices in Akane and Ichigo. He knows that they are. These two have worked with him in various different times, cooperated to protect Ruby, and have multiple times affirmed their desire to kill Hikaru/help Aqua/protect Hoshino twins. Akane has done so as early as their fake relationship days and Aqua knows, for a fact, that she means business. He know he can rely on them, and he knows they want to help.
And imagining a workable plan/conspiracy without killing Aqua, is not hard, not even for the average audience. People get away with murder all the time in real life. Only 50% of murders in the US are solved, and Japan itself is notorious for recording everything as "suicide" unless they catch the killer standing next to the corpse with bloody hands. And there is nothing in Oshi no Ko setting to imply a more cut-throat law enforcement or a more rigorous investigative prosecution.
Officials never bothered to dig deeper into Ai's murder. They went with "oh this crazed fan murdered her because she had kids, and then killed himself, case closed." They never bothered to figure out how in the hell did that guy figure out her address, or whether he had any accomplices or not.
People didn't even know Gorou was killed. There wasn't even a real missing person's case about him. This 30 something doctor disappeared without any warnings and everyone went "oh well, that happens." If it wasn't for the crow goddess intentionally leading Ruby and Akane to the corpse, no one would ever find out about it. And of course, they had zero leads. They will only ever solve it, if they can, because of Niino's confession. Guess who trapped Niino and got that confession our of her? Spoiler alert: Not the police.
Indeed, Aqua's own suicidal plan rests on the assumption that police will look at only the most superficial of evidence and go for the simplest answer.
They could have killed Hikaru, bury his body in a ditch and make it look like he skipped town after Niino got caught and started singing. Combined with increased public scrutiny due to the movie, it would be an extremely easy sell and the simplest answer to reach for. This is just one plan those 3 could have gone with. Spare a moment, and I am sure you all can come up with plenty more workable plans.
So what happens if Aqua's sacrifice is actually completely unnecessary? Well, then his death becomes meaningless, pointless suicide. He had a million options, and instead he chose to kill himself because???? Because he would rather die than spend another moment listening to Akane? He really dislikes talking to Ichigo he would rather die? The prospect of dating Arima Kana was so repulsive he wanted to just end it here?
Dumb, and meaningless. Not a heroic sacrifice, but a worthless suicide, by a moron.
The second excuse, tries to rationalize the suicide angle. It goes like this:
"Aqua was a depressed, suicidal guy, and in the end he fell victim to his demons. He just couldn't heal. It's a terrible tragedy. Not every story has to have a happy ending you know?"
Why doesn't this one work? Because at this stage in the story, Aqua isn't actually depressed or suicidal. You read that one correct. I am not saying he shouldn't be, I am saying he isn't.
We had our suicidal, depressed Gorou/Aqua. We had him since the start. But the story developed him towards healing. First we saw that Aqua can actually be freed from his guilt and be happy, during the time he though his father was already dead. He was unburdened and free, happy to continue his life instead of being without purpose and feeling an even deeper void.
And later, deep in the movie arc where he was all but hellbent on self-destructing to take down Hikaru, he was once again pulled from the brink, truly this time. Ruby-Sarina reveal was the start of it. That gave him a sense of duty to survive.
Afterwards we have seen that the personification of his guilt, self-loathing and lack of self-worth, the shadowy apparition of Gorou, turned into a normal guy. A chill, a bit jokey, supportive guy even. He has forgiven, not only himself, but the very target of his vengeance. He wasn't merely thinking or trying, he had actively forgiven Hikaru and put it all behind.
We have him enjoy a regular day with Ruby, go on a date with Kana, and repeatedly express desires about the future including education and career. Indeed, even as he is pulling the knife committing to his plan, he shares his hopes for his own future, his desire to live, all the things he wants to do and experience. Aqua who stabbed himself and jumped off with Hikaru, was not a suicidal depressed dude.
Indeed, the story is trying to frame this as heroic sacrifice, not mindless depression fueled suicide. And I have already explained why that angle doesn't work neither.
So the only two potential ways that this ending could have worked, were botched. The heroic sacrifice doesn't work, because it is unnecessary. Depressed guys kills himself doesn't work, because he is not like that anymore.
Could the story make either of these two endings work? Sure.
You want a "heroic sacrifice"? Than do a real heroic sacrifice. Make Aqua die fighting off some guy who was attacking Ruby. Make him stand on the way of a knife or jump in front of an incoming bullet targeting her. Whatever you do, just make it so him dying is actually a consequence or necessity of her survival, and not some needless, mindless suicide.
You want a "depressed suicidal guy cannot heal and succumbs to his mental illness" story? Then remove the parts showing his recovery. Show that ghastly shadow continues to haunt him and taunt him. Show that he has no real plans for the future. Show that he avoids contact with people and pursues no joys, only the "mission". Don't have an entire chapter where he talks about how much he wants to live and how much he has to live for from his own mouth.
But truly, nothing exposes a botched ending, as well as putting it side by side with a successful one. And bittersweet, tragic, sad, dark, bleak endings, are neither rare, nor impossible to pull off. Indeed, there are a plenty, and the only polite reason I can think of why anyone would defend Oshi no Ko's ending, is that they are young and have not yet been exposed to the giant canon of anime, manga movies, games, tv shows and books out there that do it right. So I am now going to give bunch of successful examples and yes, to simply share them is to spoil their ending, but it is no issue. Their watch value is not reduced by knowing. Indeed, if you go in armed with the knowledge of the kind of ending that awaits you, you might pay greater attention to how its built up. Who knows, maybe you'll learn something.
SPOILERS FOR VARIOUS MOVIES AND A TTRPG ACROSS DECADES
Do you want a story where a man tries to fight off against a corrupt system or a terrible conspiracy, but all of his efforts are in vain and it all ends horribly?
The Parallax View (1974), Blow Out (1981)
Do you want a story where the bad guy wins, there is no resolution for anyone, and all the struggles of the hero is for nothing in the end?
No Country for Old Men (2007), Chinatown (1974)
Do you want a story where people with self-destructive habits cannot let go of their ways, cannot heal, cannot rise above their failings and then meet tragic ends?
Requiem for a Dream (2000), Uncut Gems (2019)
Do you want a story that acts like it will follow the typical mystery/investigation thriller formula, only to reveal in the end that the usual and expected win and vindication for the hero will be no where to be found?
Seven (1995), Arlington Road (1999)
Do you want a story, that has a mostly comedic setup and tone, but slowly builds tension in the background before it all comes crashing down in the complete tragedy for everyone in the final act?
Do you want a story where a morally compromised, emotionally damaged anti-hero tries to protect a child, whose naive crush he cannot reciprocate?
Léon: The Professional (1994)
Do you want a story where the hero intentionally gets himself killed by the bad guy, because that's the only true way he can defeat the villains and protect the innocents?
Do you want a story with a pair of twins who share a strong and loving sibling bond, have a dead mother, a shit father, a vengeance to seek? One that has a bittersweet ending, complete with a beautiful romance cut tragically short?
Critical Role Campaign 1: Vox Machina (2015-2017)