The ending of Terminator Genisys destroys John Connor and Pops when the time machine's energy field detonates in the Cyberdyne building, and the same blast wrecks the Genisys system, so Judgment Day appears to be averted.
The mechanics of the finale are specific. John, by now a nanotech Terminator serving Skynet, is pinned inside the field of the time machine's reactor, and Pops holds him there. Both are torn apart in the blast. Pops is the older Guardian who raised Sarah from childhood, so the scene pays off the one relationship the film builds over decades of story time rather than minutes of screen time. Later, Pops is reassembled from surviving liquid metal debris, and he, Sarah and Reese drive away together.
Production context explains why the building matters. The Cyberdyne exterior was shot at Oracle's headquarters in Redwood City, California, and the overnight gunfire scenes there drew neighbor complaints about the noise, according to reports on the shoot. The interior fight, by contrast, belongs to a story that moves its 2017 act to San Francisco, where Genisys is an app about to link every device.
Compared with the films around it, the choices are unusual. Terminator Salvation kept John Connor as the Resistance's central figure. Genisys turns him into the enemy, which cancels the future that the earlier sequels worked to fix. It also moves Judgment Day from 1997 to 2017 and swaps a military defense network for a consumer product. Danny Dyson, the son of Miles Dyson, is the one who helps the team inside, which ties the new threat to a family name from the earlier story.
The film is not the same story as the first one either: it revisits 1984 and recreates scenes people remember, but the past it shows has already been altered before Reese arrives. Reese remembers a different future, which is the film's way of saying that two histories now exist side by side.
The post credit scene complicates the finish. The Genisys core survives in a protected underground chamber, which suggests Skynet could return. No sequel followed it, and the next release, Terminator: Dark Fate, is the sixth film in release order.
As opinion, the ending is stronger than the middle: the sacrifice of Pops gives the film its one clear emotional beat, while the crowded timeline work around it is harder to follow. Readers who want the saga to remain a single line can treat this film as a separate branch. The full Terminator timeline page lays out how the branches relate.