Out of the 5 narratives in POT/OotS, only her and Jayfeather really carried the plot. Lionblaze was inconsistent, and Dovewing was wasted potential, while Hollyleaf was out of commission after POT then iced a book later after her return in OotS. Compared to the other three, she and Jayfeather at least had heavy plot-related chapters and were both consistent as characters will visible growth. Whereas Jeayfeather showed us StarClan's view, Ivypool showed us the Dark Forest's view, which was vital for readers to actually understand the contrasting sides.
Ivypool felt like the underdog type of character, she and her sister promised to do everything together, only for the prophecy to drift them apart. She became jealous and felt inferior, and constantly reminded she was in her sister's shadow, which I'm sure many can relate to. She had a realistic situation where she felt like the lesser sibling or felt that she was worth less in general, or would never be as good. Which isn't a pleasant thing to feel. And because of her insecurities she was taken advantage of. Her character story explores this, it explores her mislead desires, and her being in a situation that seemed greener on the other side, only for it to come to a spiraling reality. She was used, and traumatized, but for the sake of her clan, she chose to continue on and try to help them against the Dark Forest.
When it comes to her conflict with her sister, her initial issues were solved easily after Dove stopped lying to her about her powers, and Ivypaw realized the DF was using her. The sisters at least came to a compromise of understanding at that point, only for it to get worse because of Tigerheart's overall involvement. At that point, it wasn't Jay and Lion wedging between the sisters, but Tigerheart. Ivypool's newfound loyalty, clashed with Dovewing's wayward heart and made things difficult for the two sisters, but when you're an apprentice, you're young and you do stupid things, so it's understandable. Hopefully, they both grew out of it right? Well, only one actually did.
Ivypool also doesn't have problems making tough decisions, but she still has morality and loyalty for the code. She feels guilt for what she did to Antpelt, but at the same time had a strong urge to survive as well, even if she regretted it. She didn't want to kill Flametail but knew in the situation she was in, she had no choice, but was relieved when Tigerheart intervened, even if she hates her for it. And despite her and her sister clashing, she was still genuinely concerned about her safety, because of Tigerheart's involvement in the Dark Forest, and not wanting her to get in trouble for breaking the code. Ivypool also wanted cats to make the right choice on their own, similar to how she did, because she believed they would make the right choices when the time came, instead of immediately stringing them up and punishing them like Lionblaze (hypocritically) wanted to do. In the final battle, she also showed immense leadership skills, convince cats to fight for their clans, leading them into battle, and turning on the Dark Forest to help change the tides of war.
When it comes to her work as a spy, I think she did good enough under the circumstances she was given. A lot of people tend to compare her to Violetshine when it comes to spying, but they had two different jobs. Whereas Ivypool's job was to collect intelligence and information, Violetshine's job was to help rescue cats in secret. And unlike the Dark Forest, Darktail's group doesn't have the ability to appear where they please and openly spy on the living, no matter what territory they were in. Lionpaw was almost punished for showing his moves off to Heatherpaw when Hawkfrost confronted him, so for Ivypool to reveal her secret training sooner would have been risky. Same with outing the trainees, IMO, I think what Ivypool did was the right call, especially since Lionblaze wanted them to be punished, while Brambleclaw was much more understanding about the situation since he's been in a similar one. Ivypool had to be careful with what she did in the living world, and to some this may come off as an excuse, but in the context of the plot it made sense, especially since she could have easily been iced in the Dark Forest while sleeping. Many cats were so easily picked off just from "training" or defying the higher ups there, and Ivypool's goal was survival and getting information.
There was also one time when Ivypool was actively trying to get information from the higherups. Despite being one of the chose cats to represent each of the clans, and gaining the approval of some of the higherups, Mapleshade and the others made it clear that they were still not trusted as long as they smelled like living cats. Ivypool actively did try to enter into their meetings to no avail, and when she attempted to see their plans, she was woken up by Dovewing before she could. And honestly, if the story actually wanted to use a character to spy in a more safer and efficient manner, they could have used Dovewing, who can literally hear into the Dark Forest, but even when she did she also chose not to reveal who the trainees were. So it feels more like a wasted opportunity for her character if anything.
That aside, when it comes to AVoS, her most active moments are with Twigbranch as her mentor, and then later her conflict with Dovewing, and her mutual romantic relationship with Fernsong. However, when it comes to conflicts in ThunderClan, in both AVoS and TBC, she still has a voice that carries weight, since many of her clan members side with her on decisions. She's a good mentor to Twigbranch, and even feels guilty when they have different views, but they forgive one another and move on from it. She's upset about Twigbranch leaving but accepts it, and still thinks of her fondly and proudly. When it comes to her sister, she's still worried about her safety, and angry with Tigerheart because of him possibly getting Dovewing in trouble. She understandable puts her paw down and tries to focus on her own life later, which honestly good for her. And when it comes to her and Fersong, the two introduce a new concept of Nursery Kings into the books, and in the more recent novellas, we get to see how it plays out more, which is really nice. The two of them had issues that were maturely talked about and compromised, and things worked out well for them.
Ivypool is much more mature, well respected, and is very active in her clan. She's said to be a good mentor, hunter and fighter, with dangerous skills under her belt. After Liomblaze lost his powers, arguably, Ivypool might be the current strongest fighter in ThunderClan imo. Not to mention she and Fernsong also have a very refreshing, drama-free relationship, that's healthy. Her three kits have actual screentime and personality, even if some may not find them favorable, it's still better than most, like background characters without a single line yet. And now she's being considered as a possible deputy/leader candidate in ThunderClan. Imo, she's overly qualified at this point.
Overall, I think she's a solid character, even when she's no longer one of the protagonists, she's still an enjoyable character to see or read about here and there. I find her personality and tribulations to be realistic and down to Earth, and her family, in general, are interesting and enjoyable to read about too. And I think she'd is one of the better choices for leadership roles in the future for ThunderClan going forward, especially because she's not too young, not to old, and very experienced and respected. She's definitely earned her way up the ranks, and she didn't need some deus ex machina plot points, or ridiculous nonsensical powers to show that in her character. She's not my favorite character, that goes to Gray Wing, but she is my second favorite, just above Cinderpelt.