Endings Explained

So far we have 3 endings: 2 in the base game and one more that came with the Tides of Oblivion DLC. To unlock the first 2 endings, a player needs to fill Melo’s Bottle at least 5 times.

''Some people said that 5 upgrades weren’t enough and they didn’t get additional endings. But the interesting thing is that exactly after the 5th upgrade, the following words appear in the Bottle’s description: “The Melos Bottle is filled with Condensation honey, the truth within the darkness is finally revealed”.''


 * 1) The so-called ‘bad ending’ : Terrence defeats Teresa and drinks from the cup, told that it will set Teresa free. In reality they both turn into Colossi-like creatures. In the end we see the Sun underwater. So, the idea behind it, I believe, is that drinking from the cup restarts the loop, because the 3rd Seal wasn’t brought and the Old God remained asleep in the Grave. This ‘attempt’ wasn’t successful.
 * 2) The second ending : Terrence refuses to drink and kills Teresa. The Colossi start moving towards them. I believe it’s a so-so, middle ending, because by killing Teresa we break the loop, but the 3rd Seal wasn’t brought and the Old God remains asleep, so this reincarnation continues and the period of light won’t start.
 * 3) The true ending (Ichthyosauria ending) : Terrence puts the 3rd Seal in the cup, breaking the loop, but also awakening the Old God, which means a start of a new reincarnation and a period of light. (Terrence meets Teresa and she tells him “That’s the answer you’ve been looking for, the final answer”).