On one hand, most of the main cast survive and thus might have good odds of defeating Walpurgis Night. Yuma is a walking "Get a hold of yourself" factor, helping Kyouko and Mami get a grip of things after the witch revelation (Mami generally takes it better compared to TL3... I guess watching the terrible fate befall your friend who you urged into contracting or your opponent who nearly killed you kinda makes a difference). I really wish Yuma was hanging around during Sayaka's arc in the anime. Sayaka, by the way, fights her way out of the barrier, while others run or cower in fear. Damn, I'm proud of that girl.
Oh, and Kyuubey is killed, though temporarily.
On the other hand... Madoka, who spent the timeline in blissful ignorance, gets exposed to the system in a gruesome way and dies a death that makes me want to bash my head against the wall. Many of her classmates and Kazuko-sensei fall prey to the witch Oriko released, Hitomi nearly snaps from watching it all... Oh, and Oriko and Kirika both die, too. Yes, I do sympathize with them both, despite them being "villains". Oriko did a lot of terrible things trying to save this world... and she actually saved it in a way. But even in afterlife, she won't be able to get over the things she did, as she herself admits in the last scene.
Good that at least Kirika will share that burden with her - coming from Urobuchi, that's an arguably happy ending in itself.