Death has less meaning on this show but what really annoys me about Felicity's "death" is how clearly not dead she'll be. It is the classic overdone "main character suffers a gunshot wound" finale cliffhanger followed by the premiere opening in frantic scene in the ER with EMTs or some other emergency medical facility (like a vet's office if they want to keep Felicity's recovery off the books).
I'm calling it now. Felicity will spend the episode in surgery while the rest of the characters deal with their 'feelings.' Oliver will go on a rampage looking for Dahrk again, Diggle will talk him down while Laurel goes rogue in her own way to get reined back in by her dad. Oliver will be all "This is my fault. I did X and now Felicity is Y" and everyone else will be like "No Oliver. She made her choice and she chose to be with you." Oliver: "Well that choice got her here." Eventually Diggle and others will talk a guilt-ridden Oliver into seeing an unconscious Felicity in the recovery room. He'll made some sappy monologue about how sorry he is and how this is all his fault and how he can't be near her any more.
The next few episodes will be about the awkward tension among Team Arrow, how they cope without Felicity while she recovers, and how lonely Felicity is without Oliver. Eventually, Oliver will realize he is dumb and the two will kiss and makeup.
There i just saved you watching the next probably 4 or 5 eps.