Clearly, Gotham is using this as a stepping stone to introduce Oswald's monocle, which The Penguin has been sporting since first appearing in Detective Comics in the 1940s. In fact, you can even see him wearing the monocle in the new series finale trailer that was released. And though he started off pledging allegiance to Jim Gordon, he ends the episode once again set to destroy Gordon and everything the new commissioner holds dear. No one really thought he and Ed were going to take each other out, right?