I'm about halfway through the second Transmetropolitcan Absolute. I think the two parts so far that have really stood out for me are those introductory issues that establish the kind of person that Spider is, and the sequence where he interviews both the Beast and the Smiler -- and then ultimately deals with the consequences. Those first chapters establish Spider, the world around him, and his relationship with it so well. Pretty much everything since is an elaboration, an exploration of ideas. Sex, identity, religion, drugs, and of course politics. And behind it all the idea of perceived truth. Of course, everything is shown through the lens of Spider, who both loves and hates it all, consumes it all, and is generally a dumpster fire. It's weird to say he's unreliable given that he's like, the savior of truth in this world, but ain't that how it works.
The sequence with the President and his opposition is the first to really challenge Spider's beliefs and role. He once again tries to do "the right thing." Kind of like in those early issues when he rushes to the Transient riot and reports live from the scene. This time he tries to get the Smiler the nomination, seeing them as the only person available that isn't either the Beast or the bigot king Heller. Then he does an interview with the Beast, and he realizes he's made a mistake in supporting the Smiler. Not only has he made a mistake, but he's been used. I really thought this would be a bigger deal for Spider going forward, but it actually hasn't changed him or the story at all. I can't tell if he feels like he failed, if he's angry, of what. I guess it can be assumed that he's just saying "SSDD" and moving on, since he's still the same. But I still feel like this bit is notable considering how different it is from the "normal" story.
Anyway, that's my update. I'm quite a bit less certain of the story that's going on anymore. Or maybe just persuaded that there is no thematic arc beyond the idea that nothing changes. But that Spider thinking he's helping makes him feel better, and that feeling better is most of what Spider cares about.