I have been thinking for quite some time about the ending of Myth 2. About how Soulblighter falls into the magma and dissolves. I thought that this was a bit strange cutscene for this reason: I was under the impression that Soulbighter was immortal. I thought he couldn't be killed because of the ritual he went through that left his face so disfigured. But the cutscene clearly shows Soulblighter being dissolved.
So here is what I thought. Because of his actions in Myth2 Soulblighter halted the cycle of the Leveller. When he was defeated by Alric, Soulblighter's body was destroyed, but being immortal, his spirit endured. His enduring spirit began a new cycle, that of the Soulblighter. So now every thousand years it is not the Leveller who returns as the hero who defeated him but it is the Soulblighter who returns as the hero who defeated him.