Loki and Flowa arrive in the aftermath of the bloodbath perpetrated by Gamora on Earth. The Avengers and the Guardians of the Galaxy have been dispatched with ease by Gamora armed with the Infinity Stones. She is ready to slay Loki, but, in true Trickster God fashion, Loki Laufeyson talks his way out of death. Meanwhile, Gamora tames the universe by folding it in half, fusing all souls with another. Captain America and Doctor Strange, Iron Man and Thor, Spider-Man and Moon Knight, X-23 and Scarlet Witch, and others are fused together. Gamora goes to the Quarry of Creation and brings Flowa to record what happens.
If you were hoping for a reasonable explanation for the "Infinity Warps" in this comic, then I am sorry to say that Infinity Wars #3 will disappoint you greatly in that regard.
This entire issue is encapsulated by Loki trying to negotiate with Gamora while the latter fuses the universe with itself. It's never really explained either.
The comic attempts to draw a parallel between the Infinity Warps and Thanos killing half the universe in Infinity Gauntlet, but—well, one is an act of mass genocide while the other is a bad mid-1990's toy line. One raises the stakes while the other confuses and exasperates.
That's the real problem with the Infinity Warps now being a part of the main Infinity Wars story: it's really goofy and makes it difficult to take the story in any seriously. Tension evaporates, and you marvel at how bad the visual design for Weapon Hex and Soldier Supreme are. Admittedly, Iron Hammer and Aracknight look okay.
Mike Deodato Jr. continues to provide good art that feels like it comes with a Faustian cost. The paneling is still distracting and baffling. There are moments where body posture and facial expression make little sense for the scene they inhabit. That said, he's still a great artist that brings some positives to the book. Frank Martin's color art is dark and suits the story well enough.
Infinity Wars #3 brings the story to a grinding halt to introduce the Infinity Warps and advertise the spin-off comics. For my money, I'm only interested in the Sleepwalker mini since it continues the story of Infinity Countdown: Darkhawk. As for this comic, I can't recommend it. The story goes nowhere and introduces an idea that would really only work in its own separate miniseries or group of miniseries.
I'd be fine with the Infinity Warps as some sort of "What If" group of miniseries; setting them as one of the main ideas of Infinity Wars is a misstep.