If Velious wasn't completely retardedly designed, Kerafyrm would be an actual killable boss that wakes up every time you kill the 4 warders and is repeatable and should be the true end boss of Velious.
Always thought the same thing. Figured they were going to bring him back soon enough and we'd find out where he went off to. But no, Luclin came and went, no Kerafyrm on the moon. Planes of Power came and went and they reused his model for a low-tier boss. 10+ more expansions went by. It was pretty clear that there was no story plan for Kerafyrm, the original devs just wanted it to be a cool one-time event where their super-mob could rampage around for a few minutes. If that was the case, he should have just been the final boss of Velious and been done with it.
Later a different dev team brought Kerafyrm back for the level 80 expansion Secrets of Faydwer and made him the final boss there, with a pretty cool endzone. However the whole thing had a definite feeling of them bringing the idea out of the mothballs due to popular demand, rather than actually continuing the original story. Kerafyrm even looked totally different (and much less interesting, IMO).
Later for the 115 expansion Claws of Veeshan they brought back the rest of the Velious dragon crew. Vulak is the final boss there and takes up residence at the center of the Sleeper's Tomb chamber, so after several decades we finally did get a final boss fight in the Sleeper's room.
Kerafyrm's never been seen again, and was never actually slain even in SoF, so I consider it one of the great loose ends of EQ. Surprised CoV didn't address it, considering we deal with Yelinak and the Crusaders in that expansion and they're technically the ones imprisoning Kerafyrm to date.
The Muramite storyline never really got finished either, nor did the back half of The Burning Lands with the water citadel Loruella. Not even sure what Live is doing at this point with the weird recent expansions.