Miki x Mako is one of my favorite iM@S pairings, but unfortunately this one's not a particularly good end...at least for Makoto. I'm actually waiting for another Miki x Mako book I had to get scanned and that one ends on a slightly better note than this one, so there's that. At the very least this one has wonderful cat play, and I'm a sucker for cat ears.
I dunno what Makoto's thinking at the end, but Miki's going something along the lines of "I hate you, Producer... Producer... Producer, I love you..." So yeah, kinda a bummer.
Basically, Haruka NTRs P-san away from Miki, so Miki takes it all out on Makoto...who goes along with it partially because she actually has feelings for Miki. Except it's clear in the end that Miki only really cares about P-san and Makoto is just her fuck toy.