Kagurabachi has evolved to become quite unpredictable, beginning with the introduction of Yura, the leader of the Hishaku. Making his first appearance during the Rakuzaichi Arc, the man teased the extent of his abilities when he fought Chihiro's sorcery without using his own. As the story progressed, Yura's approached to gaining Magatsumi and his actions thus grew cryptic.
Now although the story looks far from over, there is a buzz that the plot may opt for a Jujutsu Kaisen-esque conclusion. However, in this case, it would be a step up from the way Gege Akutami chose to end the manga. To put it plainly, Takeru Hokazono may be developing Yura to fulfill a major role in the story's climax, an entity distinct from the Master Swordsman, akin to Sukuna and Kenjaku.
Disclaimer: This article is a speculative theory and reflects the writer's opinion.
Kagurabachi may go for a more refined Jujutsu Kaisen-esque conclusion

As mentioned, Kagurabachi may be building up to an ending similar to mega popular series Jujutsu Kaisen, but better. In the latter manga, there happened to be two antagonists who were built up throughout the story - Ryomen Sukuna and Kenjaku. Sukuna was a terrifying Curse, sealed away a long time ago, but now returned and Kenjaku as a centuries-old sorcerer surviving by changing bodies.
On the one hand, Sukuna was in pursuit of just one goal - the pursuit of personal pleasure primarily through battle and destruction. He wanted to fight someone as strong as he was, given that he had grown bored being the strongest. Elsewhere, Kenjaku was a twisted individual wanting the Merger - evolve humanity by merging them with Master Tengen to usher in a new era of Jujutsu sorcery.
These two individuals were highly dangerous by themselves. They weren't against each other and even briefly joined hands. However, the point here is that they were the two major antagonists that needed to be defeated by the end of the series. Kenjaku was eventually decapitated by Yuta and Sukuna was defeated by the combined might of Team Jujutsu High.

Moving on, Kagurabachi may just be setting up a similar ending with Yura and the Master Swordsman. Like Kenjaku and Sukuna, they could end up as the two final antagonists that need to be defeated. Yura has proved crafty thus far, manipulating situations and carefully playing his cards for the outcome he desires. Elsewhere, the Master Swordsman lies in wait to be free and unleash destruction once more.
Now, many feel that there is something odd with Yura, regarding the Master Swordsman. A popular opinion is that he is a product of Magatsumi and a puppet being controlled, working towards freeing the Master Swordsman. While the idea is definitely intriguing, Yura claims to want to wield Magatsumi and for that, its Eternal Contract must be severed, i.e., the Master Swordsman must die.
Hence, Yura allied himself with Seiichi Samura in Kagurabachi, an Enchanted Blade wielder out to sever the other Eternal Contracts and ultimately kill the Master Swordsman. Here, unlike Sukuna and Kenjaku having distinct goals and not against each other, Yura's goal involves the Master Swordsman's demise (unless he finds a way to sever the contract without killing).
But all in all, it wouldn't be wrong to say that the Master Swordsman is definitely a candidate for Final Boss. With him, it is highly likely that Kagurabachi throws Yura in too, creating a bigger yet more intriguing issue for Chihiro and co. to deal with.
Final Thoughts

Kagurabachi looks to be steadily heading for a high-stakes climax, drawing convincing comparisons to Jujutsu Kaisen’s two-villain finale with Kenjaku and Sukuna. The idea explored in this feature positions Yura as a force biding his time to step up as one of the manga’s final antagonists. Such a situation would resemble the ending Akutami chose, making Yura a Kenjaku parallel.
The man's aim to wield Magatsumi by severing its Eternal Contract links him to the Master Swordsman, who himself is likely being moulded to mirror Sukuna as a destructive force. However, the difference lies in Sukuna and Kenjaku having independent goals, while Yura’s intentions undeniably lead him to the Master Swordsman. This would tease more narrative coherency in a final showdown.
With notes from its shonen predecessor Jujutsu Kaisen, Takeru Hokazono may be weaving a more refined dual-antagonist ending - Yura's ambiguity and strategic alliances keeping readers on their toes. If true, Kagurabachi could present a climax more grander and more structurally sound.
Related links:
- Kagurabachi chapter 89 highlights
- Yura could be a by-product of Sword Saint's Magatsumi in Kagurabachi
- Is Kagurabachi's Yura the next Yuji from Jujutsu Kaisen? Explored