The more I think about it, the more I love the ending.
I think the “fairy tale” aspect of it is what makes it perfect. As Emily Nussbaum says in her review:
“I mean, wouldn’t this finale have made far more sense had the episode ended on a shot of Walter White dead, frozen to death, behind the wheel of a car he couldn’t start? Certainly, everything that came after that moment possessed an eerie, magical feeling (…)”
It totally did, but Nussbaum misses the point if she thinks of that as a strike against the finale. In a sense, this *was *the ending as Walt’s dream, or as I called it earlier, the power trip fantasy ending. Which is not to say that it all happened in Walt’s head while he was dying of cancer in New Hampshire - that would be ridiculous - but something more subtle: It was the show in a different narrative mode, where realism was abandoned for cinematic fantasy. Again, the “realistic” ending was played out at the end of “Granite State”. This episode had something of a meta feel to it, like the show was saying: “You’ve seen the realistic conclusion, now here’s the fantasy one, we know you all desperately want to see that as well”, and being completely self-conscious about it. Besides, the show has been shifting gears between realism and movie fantasy, a slightly eerie feeling of not-exactly-real, all throughout its run. If we hadn’t seen the fantasy ending, there would have been something missing. Doing it like this, over-the-top magical and coming after a much more bleak and realistic conclusion in the previous episode, adds a perfect irony. We get the happy ending, but it never feels entirely real - and it’s not supposed to. This lets the two possible conclusions - 1) Walt dying as a broken man, either alone from cancer in New Hampshire or in prison, and 2) Walt going out in a blaze of glory, killing the Nazis, getting the money to his family and dying with a smile on his face - both exist in a kind of narrative superposition, like Schrodinger’s cat. And somehow the show pulls that off *without *leaving us with a feeling of ambiguity or lack of resolution.
Seen strictly on its own, the finale may seem too “happy” and not really satisfying, but seeing it in isolation would be a mistake. Coming after “Ozymandias” and “Granite State”, it was damned near sublime, and fit the show brilliantly. Maybe it wasn’t perfect, and it’s always possible to nitpick about details, but the broad strokes of it was really just a storytelling tour de force.