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I've got illegal bootleg DVDs of it lying around here somewhere that I haven't watched in a while, but if I remember right the ending had the villains almost winning but being thwarted by a MacGuffin, leaving Stargazer to give a speech to the team about how they all had to step up. And cue heroes laughing.
I think the reason Silverhawks is so underrated is because it was always stuck in the shadow of its big brother Thundercats, handled by the same company, crew & even some of the same voice actors (Larry Kenney, Peter Newman, Earl Hammond, Robert "Bob" McFadden, Doug Preis, etc.). Would Silverhawks be regarded more highly if it had come before Thundercats? Who knows...