I really enjoyed this and thought it was another great entry to the series!
I appreciated the change in status quo, what with Kat and co recovering an actual (broken) alien starship and its resultant advanced technologies, and parlaying that to an actual spot as a stakeholder. I'm looking forward to how that changes how she sees herself - though she will almost certainly still be an outsider among the other stakeholders, it will presumably be difficult to see herself as someone working outside of the law given that she is now, effectively, part of the law.
I also enjoyed how it kind of tied the dream/video game world to real life - the ship was downed to the actions of her alien friends in real life, and they got to communicate and impact each other outside of the game! The stakes keep escalating in an intriguing way, with the stallesp pretty much now at war with some of the other alien species, and how that impacts the game and real life. It also seems like this war has been building up for many years, and earth/Kat are kind of incidental to the whole thing and are just getting kind of swept up in it and trying to be as proactive as they can be in the space they control - it makes the universe seem larger that it isn't centered on earth, that was just kind of a flashpoint.
The time skips I thought were pretty effective overall - I have no real desire to see every single dungeon cleared/skill earned, it's sufficient to just show the relevant ones - but I did think it was kind of odd how their relationship with Emma went from 'she's a friend, and I should think about telling her that I'm part of the game at some point' straight to 'she is now clued in and discussing it with us openly' without actually seeing the reveal or how she reacted to it. Once I adjusted, though, I did appreciate the new dynamic between Emma, Iris, the other dude whose name I forgot, and the hacker girlfriend as they adjusted to working with each other on missions.
Looking forward to the next one!