WARNING: The following contains spoilers for My Hero Academia Chapter 332, "State-of-the-Art Hypersonic Intercontinental Cruise...," by Kohei Horikoshi, Caleb Cook and John Hunt, available in English from Viz Media.
Chapter 332 of My Hero Academia ended on a cliffhanger that stunned fans everywhere. Shigaraki, after surviving the Hypersonic Intercontinental Cruise Punch, made a desperate lunge and succeeded in grabbing Star and Stripe's face. All signs point to her Quirk, New Order, being stolen. If that is indeed the case, our heroes have an even tougher task ahead of them.
There are no two ways about it; New Order is exceedingly powerful. The Quirk allows its user to set any rule imaginable for up to two targets at a time, provided they meet two conditions. First, they must have direct physical contact with the subject. Second, they must accurately name them. Using New Order, Star was able to make short work of villains and climbed her way to becoming the Number 1 Hero in America. She always applied one rule on her person, granting herself strength that was second only to All Might, and used the other to freely manipulate the world around her.
The chapter's ending didn't make it clear whether Shigaraki did indeed steal New Order. All For One has only ever stolen Quirks off-screen, so the exact length of the process is unknown. Shigaraki was shown grabbing Star's face for an instant and, unless that's all it takes, there's still a bit of wiggle room for the strongest woman around to pull out a last-minute surprise. Her strength and speed should be more than enough to beat him off of her. However, if he did steal New Order, then the momentum has entirely shifted.
Shigaraki's last encounter with the Pro Heroes was right after he was awoken during the Paranormal Liberation War. According to Dr. Garaki's calculations, he was only at 75% of his full potential and even then, he was more than a handful. He singlehandedly caused unprecedented calamity and the death of over 10 Pro Heroes with a wave of destruction. As of now, he's almost at the height of his power, 98% to be exact. Adding New Order to his arsenal makes victory next to impossible for the heroes, and All For One knows this. He's previously remarked that the war to come would merely be a formality if he managed to steal Star's Quirk.
But all hope isn't lost yet. Most of New Order's danger lies in its user's ability to set damning rules for their target. For Shigaraki to use this ability, he'll have to touch his opponent and, unfortunately for him, evading his touch is an activity that Pro Heroes have a lot of practice with. Before New Order was even a threat, Shigaraki's Decay Quirk already made his touch fatal. The Pro Heroes had foreknowledge of this ability and made sure to avoid his touch during their battle with great success; Shigaraki never once managed to directly decay someone. The only person he managed to touch was Izuku Midoriya (Deku), and even that is a feat he is unlikely to repeat.
Since their last match, Deku has progressed in leaps and bounds. Even though he's currently only able to use One For All at 45%, combining its strength with Fa-Jin and Black Whip allows him to produce power on a scale similar to All Might. His Danger Sense will alert him to any ambushes and he's more than fast enough to escape Shigaraki's touch now, especially since he probably won't be facing him while exhausted like he'd done the previous time.
Being unable to directly affect others with New Order doesn't diminish the Quirk's danger though. Star and Stripe proved how troublesome it could be just by manipulating her environment, and of course the possibility of there being a giant Shigaraki avatar is terrifying to say the least. Deku and Shigaraki have already exchanged blows in a primarily physical battle during their last meeting, and having a second version of that fight might feel repetitive. New Order possibly being thrown into the mix would surely make their final battle a new kind of exciting.
