for those who are confused the demon merchant are playing tricks/making fun of us. jokingly making us(reader) think its a lover from the past(k-drama trope, by k-drama i mean actual afternoon k-drama that 50+ years old auntie watch) and making fun of the death king and valicius.
it is implicated that it is valicius(death king title), and our valicius(naga worker). cause when valicius making a deal with the demon merchant iirc have taken all the soul and karma of valicius(2/3) except naga worker(which left as 1/3)
and the black merchant do have the original body iirc, with how powerful the demon merchant guy i think its not weird if he remodel original body for shits and giggles and put the soul into the body.
notice how her and his light rings seems to be match each other. and also he address her as death king and how she kind of mock his "shoddy" works even if she's the one that has to do death king job.
also after uther lore being excess/stuff that deemed as weakness of the black mass/slime.
while this one is a bundle of emotions + power and og body and on the other side miserable guy with no body and fraction of power.
but maybe i'm wrong cant wait for next updates