The mysterious figure holding the arrow is no other then Silver Chariot, gone Berserk from being pierced by the arrow.

As we saw at the end of the last episode, everyone passed out and a few hours later. Everyone begins waking up slowly, but nothing is as it seems. We’ve gone and pulled the right old body swap, peoples minds or souls have completely switched places with whoever was closest to them when they passed out.
Leaving us with Narancia confused in Giorno’s body. Mista confused in Trish’s body, Giorno trying to keep his cool in Narancia’s body and Trish lowkey freaking out in Mista’s body.
I’m not entirely sure if the episode spends too much time with Trish insulting Mista and how much he stinks or just enough time, either way it was kind of hilarious to watch. Still, obviously this is the work of a stand, though the group is not sure if it’s the work of a friendly stand user or an enemy stand user.

They get answers from a most unexpected place.
Polnareff, who’s body is already dead clung to life as long as he could to transfer his soul into the turtle so he could talk to Bruno’s group and tell them a few important things. First off, the bosses name and second off, the secret behind the arrow and how it could be used to defeat the boss.
However, it needs to be in the possession of someone who could control it’s powers. Something he was never able to do.

A trivial accident led him to discover this ability. After his crippling fight with Diavolo, he was resting in a safe place when the arrow fell between the wall and the desk. With his body in the wheel chair though, he couldn’t reach it naturally and summoned Silver Chariot to get it for him. While retrieving the arrow from behind the desk, it cut itself on the arrow and it caused the same effect we saw in the beginning. The people passing out, though Polnareff ceased the arrow back before any more damage could be done in that instance.
Now, they need to get the arrow back from Silver Chariot by any means. It doesn’t matter if they fight and defeat it or just rip the arrow from it. The stand will vanish without the arrow anyway, with its user already dead.

As they start looking for Silver Chariot, they see someone moving towards it. The body is the bosses, but the stand coming from it is Bruno’s.
We’ve been left wondering all episode, where did Bruno’s soul go? Where did the bosses soul go? Since Bruno’s body has yet to wake up, maybe because he body is dead? He approaches Silver Chariot and summons Sticky Fingers to get the arrow.
This is where we are left with a cliff hanger. I love body switching tomfoolery like this, I liked the way the first part of the episode panned out in particular with everyone figuring out what was going on. Body switching of course, is not the only side effect of this power up. It also seems to provide a large power boost to stands. Both Aerosmith and Sex Pistols are considerably powered up during this episode.
Who will become the master of the arrow and defeat Diavolo? Who will live and who will die in these last few episodes. Well, we’re bound to find out.