Peggy did her best to react “like a man;” she is more comfortable expressing her feelings in a business context. While women wept, Peggy saw the business implication and mentioned the Playtex account.
What is truly driving Betty’s depression now is the one secret she can’t unlock: The desk drawer. It will become a Damn Spot for her, she will not be able to let it go. It is all of Don’s secrecy embodied. Notice how she observed the lie Don created for Betty to tell Sally; all it is, for Betty, is more evidence of his skill at lying.
Pete was right again. Pete is a dick and everyone hates his vile suggestions, but they are right. Freddy cannot keep his job. He cannot be allowed to drink and fall apart as a Sterling Cooper employee. He can go to rehab or he can go. Pete is truly the wave of the future again, just in the slimiest form possible.