Dagoth Ur, Hircine, and Amalexia weren't final bosses. Final bosses are for games, RPG or not, that force you to go in a single direction.
Though, I do have a feeling that at some point or another you'll be fighting the heir. The story to Oblivion seems way too basic-- The Emperor dies, bad stuff happens, so you find his heir- but let's say that the Heir is an idiot and one way or another you're tasked with killing him and you become the new Emperor.
Remember, Bethesda simply said that you were not the heir. They never went beyond that to imply that you weren't the new ruler. And knowing Bethesda, they're bound to put our character on the spotlight somehow.
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