There is no end. The Family unites, and goes on living its life, with the various threads working, but it is the viewer who gets whacked.
Those who have speculated that the blackout signified the “whacking” of Tony or the entire Soprano family are wrong. That sort of first person experience has really not been a significant narrative method in the series. Had Chase meant to convey that, he would have shown the last scene through Tony’s eyes. Instead, Tony puts his hand on the juke box, which is playing Journey “…don’t stop…” (it actually looked like he was gonna play “I’ve Gotta Be Me.”)
The family goes on as before, clearly all ensconced in mob activities forever. The oldest generation is now gone, Uncle Junior, and the new generation (Meadow and AJ) is on track, though a few years from active participation. Tony seems to be at higher risk for arrest, but his strategy will obviously be, as always, to whack the rat Carlo. In a sense, the camera has been a rat also, witnessing and recording Tony’s crimes; so the camera gets whacked.
Janis and Tony are on the same page they always have been, it’s all about Janis’ schemes for making money, and Tony’s resentment of her for it. Tony remains fixated on his mother.
The viewer is taken out of the picture, that’s all that changes.
It is really a clever ending. The only issue I would take with it is that it was impossible to appreciate at the moment it happened. Whether there was any way to circumvent that, I don’t know.
Quip of the week: “The state can crush the individual,” says Meadow, justifying her decision to become a criminal lawyer; but the mob is about to crush Phil, literally. Of course, the FBI chimed with “Phil Leotardo got popped.” Literally.
“The industry is preoccupied with quality and talent,” says the TeeVee at Tony’s gangs’ safe house. Chase certainly provided it, in the Sopranos.