The problem I have with the ending was the same one that bothers me about Donnie Darko and the Final Destination films, where we have a Shaggy Dog Story where death is the solution to a problem that only existed because an otherworldy influence interfered with events in the first place.
Seriously, if Frank the Bunny had never got Donnie out of bed, if Max was not able to rewind time and without the premonitions in Final Destination, then all of the characters would have died as they were supposed to and nothing would have spiralled out of control, thus forcing the universe to either contrive a means to course-correct itself by bumping them off, or going back and preventing them from being saved in the first place.
Philosophically I guess we could say it was a study on the nature of people confronted with a situation where they cannot win and that events are outside their control, but at the same time, as a storytelling means it feels extremely cheap and contrived because the entire game is rigged against the protagonists from the start.
And you have to feel bad for Max, since the universe seems to really loathe her for some reason?
She didn't even realise that punk chick was Chloe before the incident in the bathroom because they had not seen each other since she moved back. That means the only result of the events of Life is Strange is... that Max is forced to live a week of hell, get drugged and assaulted, regain her best friend, only to lose her several times, then be forced with the choice of saving her friend or letting thousands die?
Personally, I'd have liked to have had some more options;
Maybe one where Max sacrifices herself instead of Chloe (a Heroic Sacrifice ending), one where Max decides that she's going to continue trying to save Chloe regardless (the Madoka Magica ending) or one where Max finally just snaps, having had enough of being screwed around by time and vows that she will save everyone and the universe will just have to deal (the Time Lord Victorious ending).
I think what really bothers me is that we were given the illusion of choice, but ultimately were railroaded to sacrifice Chloe as the "good" ending.