Dorohedoro — Ending Explained

Spoilers follow, and they come from my general understanding of the story rather than from the search results. The opening episodes show only the setup: Caiman's hunt, the man in his throat, Nikaido, and En's cleaners Shin and Noi. In the full story, the mystery of who Caiman was, the nature of the man in his mouth and the secrets of the magic world are slowly revealed. The identities of Caiman and Nikaido, and their ties to the sorcerer world and to En, turn out to matter far more than the initial revenge plot suggests. I did not verify the full season-by-season plot or the finale through searches, and the anime may not cover all of it yet. Treat the details here as general rather than confirmed.

The series can be read as a revenge story, as a story about identity, or as a social allegory about the Hole as a neglected underclass preyed on by the privileged. Some viewers treat it as a pure comedy-of-horrors with no deeper message, while others see its warmth as the real subject.