Ep 8 will be Season 2 finale, that's mainly why we are expecting Halloween party to happen. Ending the season with something else will probably feel underwhelming, at least for me. Many of the big plots are solved :
We now know Tybalt's scheme about Jill, and it'll be over soon.
We learned who Chad's lover is, so Sage's drama with Chad will be done one way or another.
Josy and Maya throuple is going okay, no problems left about it.
Maya resenting HOTs is solved too, Sage stepped up for it and showed they are not all bad.
Sage also probably solved Maya's tuition, no problems there too.
MC made his room actually cool, it's livable now.
The mansion will be repaired, we know how many turns we have left for it.
Cathy's departure is also decided.
Bella finally let go, if we are on her path.
Sage is ready to move on with MC, potentially.
Add Quinn and Lily to the mix, MC has lots of options now.
So all in all, there's 2 things if you take MC's love life out of the big picture.
Who is the traitor? (I mean, it's Nick but we don't know for sure yet
)
Who is working with the traitor (%90 Vinny and some additional party, but we don't know for sure
)
Discovering the first one will not be a good season finale imo. The second one can actually be a good reveal.
Thus, ending the season with the Halloween party seems more fitting imo