This mini-series spins out from the events of the Mutant Massacre in the various X-books. Specifically, that Kitty Pryde's stuck in her intangible state, and is rapidly falling apart at a molecular level. Moira' McTaggert's stymied, but Reed Richards might just have a doodad to fix this particular problem. He does, but once he reaches Muir Island, he balks at using it, for a reason even he's not certain of. Which, as you can see, is not well-received by the X-Men.
With Richards of no use, the X-Men are left to consider accepting Dr. Doom's offer to help Kitty. Kitty's left wondering if it's better for her to just let herself disperse before the team makes a mistake. Meanwhile, Sue's found one of Reed's old journals. One that suggests what happened to them in the rocket flight was no accident. Which is not happy news to one Benjamin Grimm.
Like the issue title suggests, the mini-series is about consequences of actions, whether careless or thought out. The X-Men can debate whether to accept Doom's offer, whether he's telling the truth when he says there's no price for his assistance, but working with Doom is always going to carry costs. Reed tries to warn them, but strangely, people aren't inclined to listen when you just refused to save their dying friend. Weird how that works. Johnny fires off a burst of flame intended for Wolverine and badly burns Storm instead, which spooks him. Sue ignores Franklin's prophetic warning to hide the journal away and watches it nearly tear her family apart. Magneto has to deal with the fact his presence hurts the X-Men's credibility with the FF, and resist his own impulses to lash out.
Dr. Doom might be the real superstar of this mini-series, though. Bogdanove gives Doom a very expressive mask, with both the mouth and the brows able to move and express emotion. Doom is, of course, all polite manners, when he's not berating Magneto for using his powers and risking disrupting Doom's delicate machinery. I actually do believe Doom wouldn't have asked anything else of the X-Men, because the opportunity to do something Richards seemingly wasn't able to would be reward enough. Dunking on Reed Richards is highly enjoyable.
In fact, one other aspect of this story is actually a scheme of Doom's. One he must have put into place years ago, with no idea when it bear fruit. Which suggests he did it just for the enjoyment of fucking with Reed. Even he's surprised (and gleeful) when he realizes that little time bomb must have finally gone off.
I mostly know Bogdanove's work from his time as one of the main Superman artists during the '90s. Austin's inks soften and round out Bogdanove's work here compared to that, but there's still a unique feel to it. Bogdanove really takes advantage of the pliability of Reed's body. When someone strikes him, Reed's face flattens or stretches in ways a normal person's wouldn't. When Rogue absorbs the Thing's power, Ben doesn't revert fully to human form, but some wrinkly, hairless prune that looks vaguely humanoid. It's kind of disturbing, actually. Oliver's coloring, combined with Austin's shading is great at creating mood, whether it's the X-Men staring into the fire as they decide to go to Doom, or Sue gazing down at a sleeping Franklin whose face nearly glows in innocence. The deep shadows Ben's face is given when Reed' confronted with his journal.
I don't know if anything that happens carries over to Fantastic Four (which is in the stretch after John Byrne but before Steve Englehart). Kitty's dispersion is reversed, but it's still years before she returns to an active role, in the pages of Excalibur. It does play in to the sense the X-Men are badly on the defensive, just trying to play triage after the Massacre. An almost entirely overturned roster (Longshot, Dazzler, Havok, and Psylocke are there, but other than Dazzler and Havok's ongoing game of oneupsmanship, they're not significant to the story), away from the Mansion, low on allies. Magneto continues his attempted face turn, and Claremont makes sure to continue to challenge the characters in ways that make him want to go back to his old ways, especially when people are reluctant to think he's changed at all.
It's not an essential mini-series, but it's a fun one.