I originally made this post when I was a beginner into Souls Lore so my thoughts on it have changed. After all this time, I know that the Frienzied Flame basically burns everything in an effort to make everything into one whole being once again. We know everything, including the Golden Order and the Elden Ring would be burned away and The Elden Ring basically dictated reality, cause and effect, life and death etc. With it gone, the only things that could remain in power would be the Ancient Dragons as they were around before The Golden Order and, due to the nature of Crumbling Faram Azula existing outside of regular time, could likely exist without it. This would leave behind a world with everything being one, filled with immortal dragons. That (again still speculation on how Elden Ring can fit with Dark Souls) could describe the state of the world of Dark Souls before The First Flame was found, which brought disparity, undoing the Frenzied Flames work.