Well, the series wrapped up last week and for those not keeping up with the event and who don't mind a few spoilers.
Scott Summers loses control of the Dark Phoenix and volcanic eruptions and spontaneous fires begin springing up across the globe and burning the entire world. Scarlett Witch and Hope team up against Phoenix and, with Jean Grey's help, the Phoenix leaves Scott Summers; but then takes over Hope. She flies around the world and puts out all the fires and becomes the White Phoenix. However, Scarlett Witch stops her and, using their powers together, Hope and Scarlett Witch declare "No more Phoenix."
The full consequences of this haven't been explained yet, but the Phoenix disappears and suddenly more mutants start manifesting across the globe. So it effectively restarts the mutant gene and undoes Scarlett Witch's earlier statement of "No more mutants" from House of M several years ago.
Scott Summers is now in solitary confinement inside of a ruby quartz prison cell and Emma Frost, Namor, Magneto, Colossus and Magik are at large and being hunted down by the Avengers. Meanwhile, Captain America begins forming a new Avengers team that fully merges the Avengers and X-Men together into one cohesive unit.
So it looks like the entire Utopia/Extinction Team era of the X-Men is officially over. Which is good, because I was never a fan of the direction Cyclops was leading the X-Men in.