Identity of Balthazar's enemy?
Thought about something similar aswell. It appears very likely that we get a new villain group introduced, now that the elder dragons kind of lost their “super villain” rank, especially with all the “buhu, they’re part of the world aswell, and we need them to keep the magic in balance!” stuff.
Maybe the gods really turn out bad in the end? They surely have what it takes to become the new villains.
Otherwise, perhaps the mursaat? Seems really odd to me that they went through all the trouble to introduce the race to us just to let them poof up in smoke.
If I remember right, the elder dragons weren’t originally the antagonists but instead angels and demons. So who knows maybe we’ll someday drop back to that one.
Then again, they have an entire expansion, a whole story arc waiting for us, which they could probably put in anything we don’t even know yet as the future enemy and build them up while they’re at it.
The sensible guess would be Palawa Joko, who has the motive, perhaps the opportunity, and arguably the means. As the current ruler of Elona (after we so kindly cleared out all his competition back in gw1) he is likely to be the direct master of all the menial non-dragon minion enemies we encounter in elona, so it would make some sense to instate him as a major player in the story as well.
Palawa Joko is a huge leap and I can’t really see a natural or obvious connection to being Balthazar’s direct nemesis.
The Forgotten. Just think about all of their hard work bottling up all that magic in the Bloodstones just to have a god release/absorb it.