What if the Elden Ring sequel centered on Malenia and the Scarlet Rot and another devastating event that leads to another Shattering-type event?
Malenia and the Scarlet Rot clearly doesn't go away or get resolved in the base game. Malenia is still alive in her cocoon, and technically she is supposed to return as a true Rot Goddess.
Imagine a sequel in which we revisit the Lands Between in a distant future, but Malenia as a returning antagonist, with a new, different Shattering-type events sparked by the consequences of her return. Maybe Elden Ring could have something like the progression lore structure like Dark Souls 1 through 3; maybe the world keeps fracturing, with new stakes, goals, and ambitions arising, ect... new lore essentially.