Lets just take a minute here to appreciate this screencap of Nadeko holding a huge bottle of sake. Now, I’m not saying more anime should have underage drinking, but more anime should have underage drinking. (Don’t quote me on that.)
The main problem brought up in this episode is the introduction of yet another possible complication to Kaiki and Senjougahara’s plan, this time a person or group we don’t know anything about. Kaiki is confident that Gaen would never warn him more then once or interfere even after he took her money, so this may be the first thing which really rises concern from Kaiki—apart from whatever was in Nadeko’s closet.
The episode never did explain what was inside Nadeko’s closet though. (Which apparently the presence of something in her closet was alluded to as early as Nisemonogatari? I have terrible memory.) Kaiki was shocked by it in the last episode so it’s obviously got to have some importance on the plot, but confusingly Kaiki doesn’t mention it at all or even seem to imply that there was anything to worry about. So what’s going on with that? Is it really significant to the plot?
And I guess Senjougahara and Kaiki’s conversation was all about how they should proceed now that there’s this potentially dangerous third party. Kaiki insists that they should just continue with the plan but be cautious. Senjougahara however suggests that visiting Nadeko on a daily basis might be a bad idea, and that it’s akin to going to a cabaret club; also that she hopes “snake poison isn’t addictive.” She’s implying that by visiting Nadeko everyday, Kaiki might get sucked into her moe charms and go easy on her, perhaps even deciding to help her instead deceiving her.
Senjougahara may be right about that, but I’m just glad we get to see moe Nadeko every episode. She almost warrants her own Twelve Days post, but unfortunately there are other Monogatari moments worth mentioning (I’m trying to limit myself to one show per Twelve Days posts, otherwise they’d be overrun by moments from Jojo’s Bizarre’s Adventure and Monogatari Series.) I’m already gushing about her in these episodic posts though anyways.
I don’t have much to say about Hanekawa’s return, aside from joining in on the cheers for her white-striped hair. We’ll see where her and Kaiki’s conversation goes next episode.
Anime Is (Not) Dead 
I actually wonder if the contents of the closet are ever described, or whether it’s one of those things which, by not describing them, allow you to imagine something far more shocking!
I don’t know, if it’s never described then the question would still remain for how it’s actually relevant for the story. At the moment it’s just some mysterious thing within Nadeko’s closet, and it doesn’t seem to serve any purpose except to hint at being something important. If we never find out what it is, then there wouldn’t be much point in including it in the first place.