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In Fantasy, it is those who died unjustly that should be resurrected; Fantasy allows us an existence where the real world's fears are settled, and the real world's comforts are denied - gods are real, your life matters, and it's up to the righteous to hold back unspeakable evil and inevitable destruction. Therefore, when a life is taken too early, a life is taken in vain, or a life is stolen by another, it can be good to resurrect them.
However, those who sacrifice themselves should stay gone. I'll miss Lou, but it's his sacrifice that makes him worth missing. Be honest - until today, he was just the old elezen who couldn't be bothered to remind you that you left without your goddamn inferno lamp AGAIN. He gave his life - respect his choice.
Remember when Tidus showed back up in Spira? Or when Mu La Flaga came back from the dead, if you're a Gundam fan? Was it really worth it? Hell, the only reason I give Balthier a pass is because the crafty bastard was so sure he was going to escape.
I believe Yoshida mentioned in the live letter that finding out what exactly happened to him/bahamut will be a major storypoint in ARR. This could imply that there's more to the ending than him simply dying. Consider that all of the GC leaders and Cid were at the same location as Louisoix. Having Louisoix die from the Megaflare would then heavily imply that the GC leaders and Cid died as well? As much as Louisoix sacrificing himself makes the moment tearful and memorable (mostly due to that awesome smile scene), I think it actually makes more sense story-wise in ARR for them not to die. Although it's still possible that they died while Y'shtola, Papalymo, Yda and Thancred live on (we know Minfilia does for example, who was probably in Ul'dah). These are all characters in the main storyline before The Seventh Umbral Era and therefore are in the reworked ARR story, but Louisoix, Cid and the GC leaders were all created specifically for The Seventh Umbral Era. The only thing really going against this is that I doubt SE would kill off Cid... He and Gaius clearly have a history that needs to be resolved.
Sorry, just rambling my thoughts on the matter. I also thought Louisoix died the first time, but after thinking on it some more, it might not be the case.
I have reason to believe everyone who mattered made it out alive with Louix's teleportation spell, except Louix himself. Perhaps he didn't have enough time to cast on himself, or simply didn't have any more power left in him to do so (I'd imagine time travel uses up a great amount of power).
Maybe they pulled an Aeris-scanario where he melted into the aether and thus his spirit lives on in the world..or something o_O
He died pretty awesomely (and happy) so I'd be okay if he stayed dead, but there should definitely be ingame mentions of his heroic effort and some way to show respects.
If you listen carefully you'll notice the sound of a horse when Louisoix is smiling at the very end.
Odin has a horse...
As much as it breaks my heart to think Louisoix is dead, I can agree to an earlier post... it would seem to lessen a bit of the "heroics" if he survived. I wouldn't be mad at all if he DID survive though lol!
No, his death has too much meaning for them to take that away. To bring him back to life or allow him to have survived this would take away from the story and the amazing sacrifice he made.