Season 1 was good, and Season 2 was great!
I personally liked the ending of season 2.
*** SPOILER ALERT ***
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My understanding is that the will to survive in the games is the will to survive in their original world. Borderland is the place every one will go to test their will to survive. Who died in the games are the ones who gave up and really died. For instance, Aguni and Ann, even though they are very injured in their original world, they are still alive in the hospital. During the games they (specially face cards) talk about how the true nature of the person is revealed. I believe each of us have our own struggles in our life and would like to change, forget and/or be in peace with it (etc.), but only by facing the death, we really do something about it. My theory is the citizens are in coma in their original world.
About the last minutes of the show, I kind of like it. It left an open ending. Maybe our world is a joke. Maybe our life in the original world is the last game. If you think about it, why so many commit suicide in real life?