Oh my gosh, I LOVE the callback to the first villain encounter.
First Deku moved without thinking to attempt to save Bakugo,
and now Bakugo did the same for Deku.
This is why atonement for his actions was brought up in the previous chapter.
This was his Vegeta VS Buu sacrifice moment.
Not sure which outcome this is leading to, though.
Is he simply stabbed and gravely wounded, putting him out of the fight?
Is his spine fucked up, ruining his hero career?
Or will this lead to his power being stolen?
I'm leaning towards him getting his power stolen, since Shigaraki was shown wondering about what quirk could protect him from Deku's rampage.