This moment, when Stede first sees Ed's body, doesn't get talked about as much, but it's so important to what happens after.
No one has been able to predict how Stede will react when he finds out his crew killed Ed. The Kraken crew avoid explaining anything to him at all; Izzy thinks he's going to cry and then be enraged; Zheng and Aunty seem to think he's going to want revenge.
Only the viewer sees Stede's first reaction. His shock. His pulling away. And the tears already forming in his eyes.
But none of it is anger. It's grief and shock. He turns his eyes away almost immediately - and I'd argue that this is because he knows what this means. He knows that his friends are in danger, and as far as he's concerned, he put them there.
Stede is still underestimated by so many people, both in his kindness and in his strength. It takes a very strong person to do what he does, and also a very kind one - he would be entirely justified in breaking down, in sobbing, in flying into a rage. Instead he controls everything until his people are safe and he can grieve, safely and alone with Ed.
