The player could be the Heir. Crossbreeding in TES could make that true, since the offspring ends up looking like its mother's race.
The only race that couldn't perhaps be the Heir would be the Khajiit or the Argonians, since it is not sure whether or not men/mer can have offspring together with the betmer/beast races.
Anyway, it was already confirmed that you are not the Heir.
My own take on the end is that there will be changes, big ones. In the First and Third Era the Empire was strong, in the Second it was weaker.
To me it seems like the Empire will enter another stage where its strengths and forces are not what they used to be. Other provinces could see the trouble in the Empire as a chance to gain more more.
Or then the Fourth Era will bring us an Akaviri invasion, or perhaps the return of the Sload.
Or perhaps the Empire is doomed after all, and the Daedra will actually be able to destroy most of Cyrodiil, perhaps even most of Tamriel. This would make an interesting beginning for TESV.
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