Of course he isn't dead, he has 'Aizen Syndrome'.

Konan’s awesome uber-move starts. Madara attempts to teleport away, but Konan slaps some explosives on him, so Madara stops and begins to go intangible, the explosives passing through him. They still explode, though, and he still gets injured. Konan says she knows how his powers work, and that he has to solidify before he can absorb himself, and that it takes longer for him to absorb other things. Madara realises that Konan has planned well, and he can’t be reckless. Konan reveals that Madara can only stay intangible for at most 5 minutes. She then reveals that most of the paper in her technique are paper bombs, and that there are around six million of them, enough for 10 minutes of continuous explosions. Madara goes to grab his mask as Konan detonates the explosives, and Konan says to herself that Yahiko and Nagato did what they wanted to do, and were never Madara’s pawns. She then says that their will has been passed down to Naruto, and she won’t let Madara ruin it. The explosion occurs, Madara disappears and the rain finally stops. Konan’s Paper Angel technique fails, as she’s used too much chakra, but assumes Madara is dead. But he isn’t, obviously, and appears behind her, both of his eyes showing. We then cut to a shot of Yahiko and Nagato, dead on a giant mound of paper roses. It cuts back to Konan saying she should have killed Madara, as she had gone over many simulations.

Madara says that he used Izanagi, the power to make illusions reality at the cost of an eye losing its light. He says only those of Uchiha and Senju descent can use it. Madara then says he will explain how he used it, as Konan is a former ally. He says Izanagi was formerly a jutsu used by the Sage of the Six Paths to ‘create’, and that the Uchiha and Senju clans were once one and the same, with the Sage having both bloodlines. He used imagination and spiritual energy as a ‘yin’ power to create shape and form, and used vitality and physical energy as a ‘yang’ power to breathe life into the form. He explains that the tailed beasts were his creations, and he made them from the Ten-Tails’ chakra. He then declares that that is Izanagi, and then stabs Konan from behind. He then says that legend says Madara was defeated by Hashirama Senju, but then says that the true winner was the one who focused on the future. He says that he gained Senju’s abilities, and whilst others couldn’t control them (thinking of Danzo), he can. He then rants how Konan will be seeing Nagato again soon, and how there can be no peace or hope, and how Nagato only believed in Naruto to comfort his own pitiful existence. Konan is down-heartened, then begins to think of Yahiko, Nagato and Naruto, and whilst Madara continues talking, Konan rises up and says she believes Naruto is the bridge to lead them to peace, and that she will support his bridge. She then thanks Nagato and attempts to attack Madara, but he stops her, saying that she said he was darkness, so he will make her wilt. He then says that he will get her to reveal where the Rinnegan is first. Konan blacks out. We cut to Nagato’s resting place, where Madara walks up to him, noting how even in betrayal, Nagato smirks mockingly at him, as he died with a smile on his face.

It was a pretty awesome fight, with a pretty awesome conclusion. Konan’s uber-move didn’t disappoint, as it was well planned out and took Madara to the limit. Well, sort of. You see, Madara has ‘Aizen Syndrome’, in that whatever he is hit with doesn’t really affect him, as he can pretty much walk away unharmed with a new move or new form explaining his lack of injury. This time it is Izanagi, which we’ve previously seen being used by Danzo, who couldn’t control it fully. Kishimoto gives a brilliant explanation on Izanagi, and how it’s an extremely rare technique, and then Madara says how he obtained the Senju powers to be able to use it. So now Madara is near-unstoppable, it seems. Aizen Syndrome or what? Still, there was a bit too much talking and a bit too less action in this chapter for my liking. It seems as though Madara loves hearing his own voice more than Orochimaru or Aizen, which is a bit irritating, to be honest. Anyway, Madara now has the Rinnegan. I’m assuming this will make him uber-powerful, so I hope Kishimoto doesn’t dig himself a giant grave when putting over Madara’s new power, only for Naruto to stop him easily… Not that that resembles any other plotline…