Ivy is the classic jaded entertainer. Megan does a great job of giving some layers to Ivy, though. There have been some beautiful moments where you can't help but feel bad for Ivy because she has worked hard for years only to have Karen come in and steal her dream role. She also has the added pressure of having her mother be a huge Broadway success. The writers have done well to ensure Ivy has those little moments where the viewers realize that she is really just insecure and unsure of her place in theatre. Her move with the engagement ring last night was nasty, but it just shows how far Ivy will go to get what she wants when she feels threatened. She was hoping that Karen would crash and burn after finding out about Dev's cheating, yet Karen has grown over the season. In the beginning of the season, that would have nearly killed Karen, but her confidence grew and she learned to channel her pain into something more worthwhile.
I hope the show doesn't change drastically next season given that there is a new person in charge.