We have a mystery that is doing relatively well. Not everything is in place yet, a few things are obvious, but there is the danger of it getting a bit out of control.
Most likely scenario is that there is definitely an external force involved when it comes to the bitch squad. Their mission is still not clear, and they seem to be at worst uncaring about the people they destroy, or at best dupes for most of the problems in high school. Thematically the game is going for a eye for an eye makes everyone blind theme, but I do find it interesting that the darkest things that have happened thus far are done by the MCs gang, and anything done by the Bitch Squad post high school has a general level of justification. For example, even if the sorority didn't release the sarah pic, they did by admission refuse her entry even though she had enough points, only to separate the group. There are also hints about the sorority itself having been manipulated by outside forces, as in requiring photos recently, and the increasing number of sexual pledge requirements.
While I am unsure as to whether or not Sarah IS the one who put the images of the MC in the slide show, if that does turn out to be the case, the game has much work to do to have that outcome make sense. She would have to have a reason to be spying on MC and Tommy's room and the MC himself since before even running into him at college, which would be odd. It's also the obvious "not obvious" choice of the culprit. Annie also generally falls into the category, but would requite her playing the MC through much of their lives together to work.
So that means we don't have enough information to know who has done it as of yet. Which moves us on to the main thing for the next episode. The game is nearing the point that questions need to be answered soon. Not all of them, but some, which can then move to new questions as it goes forward. There are three big unknowns that are out there right now, What happened in high school? What is the BS's goal and all that entails? and Who is responsible for putting for targeting the MC? All of those don't need complete answers, but at least 1 or 2 of them need to be addressed.
Some of what happened in high school is irrefutable, Charlotte threw Amber naked into the hallway, no one denies it. Same with someone, most likely Emma, releasing the naked pics of the MC, and whatever it was that happened to Tommy. Charlotte and Emma are undeniable bullies in school, and the first images we even see are of them, and their apparent BFs mocking the MC, with Sarah, Annie, and Kate looking uncomfortable with it. It's also fairly clear that Kate's initial prank wasn't meant to be malicious, like making fun of the virgin loser or whatever, as the MC had been with girls prior to his hell year based on internal dialog and his reactions at college. The main question then is was his bullying egged on by the BS, or was it a byproduct? The BS had a reputation of being harsh prior to all of this, well deserved. So, why did they add Annie to the group? Most likely due to her rich mother, or better said rich father, but there was a plan happening even back then.
Which leads to the second question, why did they all go to the local university at what seems to be the last minute? They have a plan, and the player knows far more about it than the MC, from what we see in college they are vicious to anyone who messes with the group, but they don't seem to be doing what they did in high school. At least at first. But every time they talk to each other they hint at some further goal, and the subtext seems to be that it is for some greater good, but there isn't much to go on beyond that. It is clear that the dev is working to make them sympathetic, but for that to really land we need to know WHY they have done the stuff they did, and at least some of what their goals are.
The third question ties into the first two. Why is the MC being targeted? Unless the surveillance is on Tommy and not him, then someone has been watching him and thus he has been a target at least since university started. Why?
If some of these questions aren't answered soon the game risks the problem of having too many balls to juggle at once.
Other than that, the game does well at most things, though the sorority hazing stuff was somehow handled better in a game like BADIK (that hurts to say), where the main LI options weren't doing anything slutty or hinted at doing anything slutty with guys outside the MC. The one who suffers the most from this is Annie, the first girl we meet, and clearly the slow burn LI in the game. No one outside of "every girl must be pure until the MC" would have issues with Charlotte or Emma slutting it up, and Kate is shown as clearly being uncomfortable with sucking dick to get into the sorority, correct me if I am wrong, but the game either hints or flat out says annie would or did blow a guy if Amber isn't sent after her... which confuses things with her a fair bit. IN fact Annie's story is the one that the dev seems to have the most trouble making work currently. The player is told that the MC and Annie were close once, but none of it comes through in their dialog much at all thus far.