Doctor Strange in the Multiverse of Madness end, mid-credit, and post-credit scenes explained: How Benedict Cumberbatch’s movie teases MCU’s future

Doctor Strange in the Multiverse of Madness is now out in the wild and the responses are mostly positive. Directed by Sam Raimi, the film brings back Benedict Cumberbatch in the titular role and pits him against an evil force threatening not just the universe, but the entire multiverse. Now the stakes are not just about a single universe, but all universes.
The film, like nearly every MCU movie these days, features several surprises, callbacks, Easter eggs, and cameos. Even its mid-credits and post-credits have gags and surprises. In this piece we talk in detail about the ending and after-credit scenes, so if you are yet to watch the movie, this is your warning to stop reading.
SPOILER ALERT
As the movie begins we see Strange, or rather one of his parallel universe versions called Defender Strange, running across a pathway in a dimension in which gravity is apparently only a word (it is later revealed to be a zone between universes). With him is America Chavez (Xochitl Gomez), a teen girl with the power to travel between universes. They are being chased by a fiery demon. Their target is a mysterious book but before they can reach it, the demon catches up and Strange decides to absorb America’s powers for himself, which would have killed her.
But demon impales Strange and as he lay dying, he saves Chavez from the demon, and the teen goes hurtling into Earth-616, the prime reality in MCU and Marvel Comics. She, Strange (the MCU strange, that is), and Wong decide to protect her from whatever is threatening her.
After a fight with a tentacled monster that has crossed dimensions to kill America, Strange spots runes of witchcraft on its body and decides to approach Wanda, believing she would know what to do. But he learns that it is Wanda who is controlling demons pursuing America. She is still not over the grief of losing her children (that never technically existed) and is looking in other universes wherein they exist, using the Darkhold to ‘dreamwalk’ other universe’s Wandas (basically possessing them as a ghost) who have their children (likely without dark magic). She is more Scarlet Witch than Wanda at this point.
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Wanda attacks Kamar Taj, the fortress of Masters of Mystic Arts, to get to America. She carves through the wizards easily, turning the edifice into ruins. As Wanda closes in the gap, America transports herself and Strange to Earth-818, wherein they find its Sorcerer Supreme Karl Mordo (Chiwetel Ejiofor), who drugs them and takes them to the Illuminati.
The secret society, made up of Mordo, Charles Xavier (Patrick Stewart), Reed Richards or Mister Fantastic (John Krasinski), Captain Marvel (Lashana Lynch), Captain Carter (Hayley Atwell), Black Bolt (Anson Mount), arrests Strange and America, deeming them a threat to the multiverse as that universe’s now-deceased Strange almost caused an event called ‘incursion’ — colliding and possible destruction of two universes.