How do hooks behave if two addons modify the original?

[QuantumPie]

For the achievement addon I'm developing, I'm hooking into some functions via:

local orgLayoutAchievements = ACHIEVEMENTS.LayoutAchievements
function ACHIEVEMENTS:LayoutAchievements(achievements)
    addon.achievementPool:ReleaseAllObjects()
    ZO_ClearTable(self.achievementsById)
    ZO_Scroll_ResetToTop(addon.contentList)
 
    local previous
    for i = 1, #achievements do
        local id = achievements[i]
        if ZO_ShouldShowAchievement(self.categoryFilter.filterType, id) then
            local achievement = addon.achievementPool:AcquireObject()
            local baseAchievementId = self:GetBaseAchievementId(id)
            self.achievementsById[baseAchievementId] = achievement
            --  i here is the same as the achievementIndex for the achievement
            achievement:SetIndex(i)
 
            achievement:Show(ZO_GetNextInProgressAchievementInLine(id))
 
            achievement:SetAnchoredToAchievement(previous)
            previous = achievement
        end
    end
 
    orgLayoutAchievements(self, achievements)
end

If a second addon was to hook into this function, how would it behave? I'm assuming whichever one is loaded last becomes the defacto implementation. I initially used ZO_PreHook but for some reason switched to the method above for later hooks. Do both methods behave the same with a 2nd addon hooking into it?