I have maintained that the logical, dramatic tragedy ending of V's character arc is to permanently lose all spellcasting powers while saving the world (perhaps by destroying the Crimson Mantle arrifact?). This would be the ultimate "death" of the main thing that made V, V. The kobold was getting more absurd and metaphorical with each passing suggestion, so I feel lile this tracks.
Of course, it could also be "As for the elf, the elf kills you" (maybe in the final climactic showdown, like what happened to Kraagor).