It's a book! It's a game! No, it's a Marvel Super-Heroes Adventure Gamebook!
There's very little to say about this book that isn't already covered in the review for the first of the series, which was Spider-Man: City in Darkness. Head back and read the review of that story to find out the details.
Without going into the details of the story (which would probably be impossible given the cross-connecting nature of the tale) suffice to say that this episode in the series features Baron Mordo and Doctor Strange, plus some other guest stars. Other than that, it's the same mix of choose-your-path with a basic combat system pasted on top that is common to all the books of this genre.
Perhaps the most noteworth point is that this story is actually written by Peter David, popular writer of Spidey comics and many other books. That wider collector base almost certainly explains why "As the World Burns" is notably more expensive to acquire than "City in Darkness".
Read the Spider-Man: City in Darkness review for the details, but this book scores the same five webs as its predecessor.