The Eternals (2021) ending leaves Earth alive but under judgment: Tiamut is frozen into stone, and Ikaris ends his own life in the Sun. Thena, Druig and Makkari leave aboard the Eternals' ship to warn other worlds, while Arishem takes Sersi, Phastos and Kingo away to judge whether humanity deserves to live. That leaves Earth's fate open, and the film sets up their return and a wider cosmic threat for later stories.
In my opinion, the ending is the most interesting piece of the film because it refuses the usual clean victory. At the volcano in the Indian Ocean, Sersi stops the birth by turning Tiamut to stone, but she does not defeat the Celestials, she only delays them. According to D23, the climax was shot at the El Cuervo volcano on Lanzarote, so the frozen Celestial rises from real volcanic ground rather than a built set, which suits a film Zhao shot in widescreen.
It could be argued that the structure echoes Avengers: Infinity War, with a cosmic power weighing the worth of life, but with an important difference. Thanos was a warlord who wanted to wipe out half of all life, and the Avengers only answered him in Avengers: Endgame, five years after the loss. Here the judge is Arishem, a Celestial who lifts Sersi, Phastos and Kingo away as punishment and has not yet delivered a verdict, so the stake is a trial rather than a battle.
The human cost lands on a few small scenes. Ikaris admits he killed Ajak to keep the mission on track, Sprite sides with him out of love, and Kingo leaves rather than fight his friends. Then Sersi spends the last of the team's energy letting Sprite become human and age, which is a gentler gesture than anything in the finale of Shang-Chi and the Legend of the Ten Rings, released two months earlier.
Paradoxically, a film built around the birth of a Celestial ends with its main team scattered across the universe. Chloé Zhao rewrote much of the Firpo script after being hired in September 2019, and I think the moral argument over obedience and love bears her mark. No follow up for Sersi, Phastos and Kingo is confirmed, so read the dangling threads as setup rather than a promise.