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Phalanx Covenant is interesting as an X-Men crossover because rather than making the books depend on each other to tell one story they all kind of tell their own story that still ties into the Phalanx. So it starts with Uncanny following Storm and Gambit as they fight the Phalanx. But then they are captured anyways off panel, which is weird. Then we got to Excalibur discovering Douglock and a potential way to fight the Legacy Virus. Then we go to adjectiveless X-Men to introduce Generation X with Banshee and Emma Frost as their leaders. That stuff is great, but mostly because of the character work with Banshee, Sabretooth and Emma Frost. The new characters are pretty obviously being introduced as a marketing push and none of them really stick out, nor have they really grown with the franchise since. Then we get X-Force and X-Factor issues, which introduce the idea that the Phalanx are trying to summon the larger alien horde from space, having evolved past the parameters set for them by their bigoted human creators. This is a cool idea, but the ending falls flat. Jonathan Hickman would make better use of it decades later in House of X.
Finally, there are the Wolverine and Cable issues, which have good character work for those two as well as Cyclops and Jean. But plot wise, the holes are glaring. How were the X-Men captured off panel? Why is it that they can't be assimilated, but they can be infected with the techno-organic virus, which is basically the same thing? Why does destroying the Battlespire kill most of the Phalanx but not Stephen Lang and Cameron Hodge? And even the very creation of the Phalanx is vague - some dark group of mutant haters brought together Steven Lang, Cameron Hodge, Candy Southern, and Warlock's DNA? Well then where the heck are those mutant haters? Did they become Phalanx too?
The Phalanx themselves are neat - basically the X-Men's version of the Borg in the way that the Brood aped the Xenomorphs and Cable/Bishop/Stryfe aped Terminator. The techno-organic visual can get old after a while but as a Sci-Fi concept they work well. This is the longest one of these reviews I've ever done, but clearly, this collection offers a lot to think about. Overall I recommend it but know it's not without its problems.