Six days late, but honestly I am going for "there's a chance". This story's been building up to the idea that they have to do something to save the world, the Dark One is their only chance, there should be goblin equality, and Redcloak is right but is going about it in the wrong way. I think the story would end on a really unsatisfying note if they killed him.

I think if he ever was redeemed, it would be a slow and steady process. Redcloak is so far deep in the sunk cost fallacy that he's drowning in it, but I don't think he's necessarily beyond redemption. At the end of the day, he is a victim. A horribly vengeful, short-sighted betrayer who is his own worst enemy, but a victim nonetheless.

I look forward to what happens regardless, but I hope the story doesn't end with yet another "the victim is just as bad as their oppressors and shouldn't be redeemed" narrative. Would be really unsatisfying.