Actually the villain in this is Selina, the hero Helena. However this is a Psychological thriller similar to Akira Kurosiwo’s Rashomon instead of a traditional super hero story. its told not just from three time periods But as i understand the work also from three points of view, Selina’s, Helena’s and The truth. however the three POV’s only becomes clear if you page through it and just focus on the artwork. Selina’s point of view is what she wants us to think happened, what helena thinks happened, and what really happened.
also, this is not an independent title it’s linked to King’s entire batman work. i explained it here:Batman/Catwoman Special Issue Discussion (Major spoilers) - #6 by Nobody.bladesmith
PS: I would love a Helena Wayne future as Batwoman series.