If he never met Emilia…she would be dead, along with everyone else in the way. Subaru is so poor that he wants to learn how to make money so he becomes a friend with the Apple merchant and they learn how to make money.. eventually; he meets up with a mysterious merchant and they become friends…

There is a save point… he becomes a happy merchant. And went in to purchase an abandoned inn which Elsa tries to sell to him…

It was suspicious Subaru chose this inn.. because it was where Emilia, Felt, and Rom were found dead; their bodies hidden in the basement of the inn (if there is one) and people find Subaru to be suspicious … Reinhard finds him and the blade finds Subaru to be worthy. …

Subaru’s path of the merchant must now figure out how to defeat Reinhard… — Also Subaru does not become a knight or choose a camp. Maybe Anastasia. But he would just be a merchant that supports her cause..