Ronin is Hawkeye.
He does not want to be Hawkeye anymore. Takes up the costume to join the NA in Japan.
Saddest part of the whole story is that this group of Avengers got whipped by the ninjas. Pitiful. Cage had swords through his head. What happened to unbreakable skin?
If the event is true, then most of the NA is now dead. Since this can't be true, I guess this is another illusion by Strange. Not impressed. Illusions are quickly becoming a gimick. A crutch for uninspired writing. Now it may not be a Strange illusion, but again Cage, Logan, & Strange all became shiskabobs (sp). Hard to tell if both spidey's and Ronin are unconscious or dead.
Most of the issue was a flashback to Hawk joining. The last part was losing the battle to Electra & her ninjas.
Just a thought
I thought the swords were in his head to. All it is is a sword breaking as its swung as his head. Look at the panel again, I had to a couple of times lol.