I can't figure out who the big bad behind all this is- the one talking about "all your wishes coming true" and making Steve Trevor appear. Those would be some crazy reality-altering powers.
Max lord is the guy talking. may not be the "big bad", as he is not the one granting wishes.
the rock is. I'm not sure we have a definitive answer on that. theres a few possibilities. Both, just rocks/artifacts with that kind of power, or entities sealed in rocks or similar things, that have that kind of power. So its possible the rock is just a mcguffin, and max is the big bad. or, the rock itself, and whats in it, is the real danger.
max was a hero. A charles Xavier type character, or Jacob marlowe from Wildcats(even closer match). Businessman funding Justice League International. with mild mind control powers. too weak to do anything really, except smooth over business deals, or super hero fuckups.
Retconned into a supervillian in 2005 Countdown to Infinite crisis. Secretly has been Running Checkmate, anti-vigilante black ops. Murders his good friend Blue beetle, when he figures it out. Uses brother eye, and Omac virus to hunt and kill all superhumans. juices up his powers to global level, erases everyones memory of Teds murder. Mind controls Superman. WW snaps his neck to free Superman.
so, max's mind control is only about 30% of his threat. its his prep and calculating that is the primary danger.
max as a villain also doesnt really work great without 30 years of him being the goofy team leader..
Cheetah and Max seem to be getting their powers from the stone here in this, instead of their "proper" backstories.
The big thing I dislike here is it looks too slick, modern. if you are going to set it in 1984, make it LOOK like 1984. Supergirl was made in 1984 for example. blown out hair, vhs quality lighting, recording... or, like malls in blues brothers, superman, etc.
Lightning web slinging also looks stupid. What a ridiculous power creep. Rather just have her fly like her normal power creep.