Well this is well short of 5000 words and there's still a lot to go over but here's some stuff anyway.
Ok, let's start from the top: the name of the update is a reference to 'Lord Ulric and the Making of the World' (henceforth LUMW), an Ulrican myth about the coming of Chaos. This seems to be about the same events, but from the viewpoint of Ranald, who also appears in that myth. In the LUMW myth Ulric and Ranald - who are BFFs and cousins - find out that Chaos is about to invade through the north pole so Ulric holds the gate while Ranald is sent to get help, but instead of doing that Ranald "ran far, far away, to the burning deserts in the south, and buried himself deep under the sand there". The last line of the update, about how digging into the sands of the desert makes no sense, ties the update into that myth even further and heavily implies that the viewpoint character is Ranald.
Now let's try and understand what's actually happening here:
Cd-3, who is probably Ranald, is described as an 'Autonomous Biological Weapon System Developer', and third in command of the city/continent Cd. The five continents and the five cities seem to be described as research facilities where the mortals are being developed as weapons against Chaos (hence 'Autonomous Biological Weapon'). Cd-3 is mentioned to have 'Deific Interface', Qt-DI3 'Tepok'. Note the
Qt designation. Cd is described as being staffed by a five-person team:
- Cd-1 is said to be "ruthless when They have to". This is either Taal or Rhya, or possibly both of them.
- Cd-2 is described both as Cd-3's best friend and as a tiresome bore, so it's probably Ulric.
- Cd-4 and Cd-5 are described as utterly loyal to Cd-1, but other than that we don't know anything about their possible identities. If Cd-1 is only one of Taal and Rhya then Cd-4 and Cd-5 could be the other one plus Mannan.
More on the staff of Cd in a bit.
At the start of the update Cd-3 and Cd-2 find out that the polar gates are failing, and Cd-2 sticks behind to hold the line while Cd-3 gets reinforcements. So far this is exactly like in LUMW, except that here it's explained that the plan isn't to stop Chaos (I guess that's considered a lost cause) but to use that time to annihilate the mortal races so they won't get corrupted by Chaos. Cd-3 loves humanity and the world in general and so considers a bunch of alternatives, namely running to one of the other 4 cities and mounting a defense that doesn't involve ending the world. This gives us some insight into the other five cities, but I also want to note that we can deduce which city Cd-3 actually went to from the upsides and downsides listed for each options, because some of the listed outcomes clearly didn't happen and some did:
- The mortal races weren't all killed so obviously Cd-3 did not go back to Cd (also fits with LUMW, since Ranald is blamed for running away)
- The Zl diaspora happened, and Gork and Mork are clearly present in the world, so Cd-3 did not go to Zl
- The Shartak (Dragon Ogres) were corrupted by Chaos, so Cd-3 did not go to Cl
- The first Daemon Prince did rise, so Cd-3 did not go to Iz
Therefore Cd went to Qt. And indeed, at least one of the outcomes of that choice confirms it further:
+ Will allow the use of their secondary DIP to directly battle the forces of the Eternal Enemy.
The elf pantheon did directly battle Chaos at the polar gates according to legend, so that fits. It's also possible that this:
? The unruly underlings of Qt may take the opportunity to loot the other Research Continents instead of helping.
refers to the elves colonizing the other continents, which is also a thing that happened, but I'm a lot less sure about it. The elves are described at pets, not underlings, so I'm not sure who this could refer to.
Now let's get more into what this story does or doesn't tell us about the Gods. Cd-3 described a 'Deific Interface' into which they can 'load into'. There's also a mention of 'mantling' Gork and Mork. This appears to suggest that the characters designated by [Two Letter City]-[Number] are not exactly identical to the Gods, but instead are, uh, wearing the Gods? Piloting Them like divine mecha?
The story also says that there's two pantheons - the Iz pantheon, which is the original one and seemingly the pantheon the Slann and the Lizardmen worship, and a Qt pantheon that was developed for the elves 'for some reason'. Cd-3 doesn't seem to know why this was done, but Deathfang's story provides a possible answer:
In the end, the greatest creation of the cunning beings were those they created by accident. With the great machines sealing the world against the Ruinous Powers, the combined beliefs of their creations had accumulated and grown into an entirely new form of life.
So according to Deathfang it was an accident. Something about the elves caused the elf pantheon to arise naturally. Maybe the team at Qt told everyone it was on purpose to save face?
Anyway, a very interesting point is that when Cd-3 talks about their Deific Interface they mention that it's "Qt-DI3 'Tepok". So Cd-3 is attempting to mantle an elf God, rather than a Lizardmen God. Why? Well, possibly for the same reason Cd-3 eventaully goes to Qt: because Cd-3 loves Qt-3 and wants to hang out with Them. Cd-3 mentions at the start of the update that they love texting Qt-3 over the G-Web, which is 99% the Geomantic Web which the Old Ones cannonicly used for communication before the Coming of Chaos.
I'm going to stop here because I see a bunch of new posts were written while I was typing this so I'll take a short break to go over what everyone else is saying.