If you’re confused about the ending to Morbius then you’re in the right place. Here goes:
After watching the news and recognizing his patient Milo, Dr. Emil Nicholas confronts Milo at his home to talk him down from the path he is going down. He goes as far to bring him artiful blood to help ease his bloodlust. Milo rejects the blue blood and retorts that Dr. Nicholas has always had a preference towards Dr. Micheal Morbius and feels like Dr. Nicholas was only taking care of him because he pitied him. He then proceeds to mortally wound Dr. Nicholas to lure and taunt Morbius into a final fight.
He then finds the lab Morbius and Dr. Martine Bancroft was working in, looking for a cure and he mortally wounded Dr. Bancroft as well. Morbius finds both bodies just in time to watch them die and has so far tried his best to stick to artificial blood, but Dr. Bancroft bites her lips and tells Morbius not to let her blood go to waste so that he can have the strength to stop his childhood friend. Morbius tries to resist his blood lust but gives in and drains her blood and is super charged to now face Milo.
The pair toss each other around New York until they make it into the sewers in a battle that is too fast and too dark to really make out things clearly. Morbius takes a nasty slash to the torso and is on the ropes when he uses his new ability to summon vampire bats to hold back Milo and inject him with the cure. The cure kills him (as intended) and Morbius flies away. He doesn’t notice that Dr. Bancroft is somehow resurrected after being bitten by Morbius.
In the first post credit scene we see the sky open up similar to how it looked at the end of Spder-Man: No Way Home and Adrian Toomes aka Vulture from the MCU gets teleported into the SSU in an empty cell in New York. He is technically innocent in this universe so he is released from prison.
In the second post credit scene, Morbius is seen driving in an open field that looks far from New York since he is on the run. He stops in the field and braces for a fight as his echolocation tells him someone is coming. It turns out that someone was Adrian Toomes in full Vulture gear extending an invitation for the pair to work together. Morbius considers it interesting and the scene ends.
