The Illuminati assembled after Black Panther discovered that another Earth was colliding with Earth-616. Reluctantly he called the Illuminati together to stop the collision. After long debate they decided that the only way to do so was to destroy the other Earth with the Infinity Gems, but had to find the Mind Gem that was in the possession of Charles Xavier before he died. Beast eventually recovered a memory implant put in his mind by Xavier, which asked him to take his place in the Illuminati, and where the gem was. As soon as Hank retrieved it, Namor, Black Bolt, and Captain America showed up and recruited him into their team.
They went to the location where the other Earth would hit and formed the Infinity Gauntlet, which got the attention of Uatu the Watcher, Galactus, and Thanos. The group decided Captain America should wield it. Cap fired the power at the other Earth, but something went wrong and caused all the Infinity Gems to shatter except the Time Gem, which suddenly vanished.
I always liked this issue. It’s not a particularly action packed issue as the meat of the story deals with Mary Janes life (told in flash back sequences) prior to really getting know Peter. MJ and Peter walk through Central Park and she tells him about her father running out on her, her mom and sister Gayle. The tale continues with MJ and crew going to live with her moms stern but fair cousin, Gayle getting married and pregnant just after high school graduation (and after a second baby Gayles husband cracks under the stress of being a pre-law student and an 18 year old father of two boys) and her mothers gradual (but fast) decline in health.
Interspersed in Mary Janes backstory is the Hobgoblin who, in his usually villainous ways, is causing havoc around town. Then, in a blink-and-you’ll-miss-it moment, this little conversation between Reed Richards aka Mr. Fantastic and Jennifer Walters aka She-Hulk (who is, at the time, a member of the Fantastic Four) is dropped in where Reed is discussing the capabilities and abilities of this strange article of “clothing” Spider-Man brought back at the conclusion of the first Secret Wars.