The plot is basically where everybody Batman related comes together to tell origins of Batman. Alfred's story is the most interesting; he claims that all of the villains Batman fought over the years were created by him and him alone to give Bruce purpose in life. Like the Riddler, Penguin, etc. were all Alfred's friends whom were hired to act like criminals.
And when Alfred sees that it isn't enough, he decides to paint his face white, put red lipstick, and a green wig on. He becomes the Joker because he feels that Batman needs a Moriarty to his Holmes. This goes on for a couple of years until Batman finds the green wig and face paint, and confronts Alfred who tells him that it's time for Batman to retire and move on with his life, and Batman is of course in denial because he feels that he is needed by Gotham City. He rushes to fight the Riddler, aka Alfred's friend, who has now gone insane and is holding some people hostage. The Riddler shoots Batman, and it ends on a cliffhanger for part 2 of the story.
Alfred tells the story while the Joker is in the room too, and we're supposed to get an explanation for that soon enough. It's pbviously an alternate universe plot, but cool nonetheless.