"The Super Dimension Fortress Macross: Flash Back 2012" serves as a compilation film and epilogue to the original "Super Dimension Fortress Macross" series, providing closure to the storylines of its central characters. The narrative is presented primarily through a series of musical sequences, interwoven with flashbacks and new footage, focusing on the aftermath of the Human-Zentradi war and the journey of the SDF-1 Macross.

The film begins with the departure of the Megaroad-01, a colonization ship led by Captain Global, which carries a significant portion of the surviving human population, including key characters like Hikaru Ichijyo, Misa Hayase, and Minmay Lynn. The Megaroad-01 embarks on a mission to explore and colonize distant planets, symbolizing humanity's hope for a new beginning after the devastation of the war. The story highlights the emotional farewells and the sense of duty driving the crew as they leave Earth behind.

Hikaru, now a seasoned pilot, and Misa, his commanding officer and love interest, reflect on their journey together, from their initial conflicts to their deepening relationship. Minmay, the iconic pop idol whose songs played a pivotal role in the war, also departs on the Megaroad-01, leaving behind her fame and the Earth that once adored her. Her character arc emphasizes her growth from a naive teenager to a mature artist grappling with her identity and purpose.

The film revisits key moments from the series, such as the battles against the Zentradi, the cultural impact of Minmay's music, and the eventual unification of humans and Zentradi through shared understanding and love. These flashbacks are interspersed with new scenes that depict the characters' lives aboard the Megaroad-01, showcasing their camaraderie, struggles, and hopes for the future.

The musical sequences, featuring Minmay's performances, serve as both a narrative device and a thematic anchor, underscoring the themes of love, loss, and resilience that define the series. The film concludes with the Megaroad-01 venturing into the unknown, leaving the fate of its crew and the future of humanity open-ended but filled with promise.

Overall, "Flash Back 2012" provides a poignant and reflective conclusion to the "Macross" saga, tying together the emotional and narrative threads of the original series while offering a glimpse into the characters' futures. It remains a significant piece of the "Macross" legacy, celebrated for its music, character development, and thematic depth.