The Saw 3D ending brings the series back to its starting room: Dr. Gordon and two masked helpers take Hoffman, chain him in the original bathroom, throw away the hacksaw and seal the door. Hoffman is left to the fate Gordon once faced.
Before that, Bobby fails his last test and Joyce dies, and Hoffman kills Jill with the reverse bear trap and destroys his workshop to cover his tracks. So, the film clears out the Hoffman storyline that ran through Saw IV, Saw V and Saw VI, and it does so with a character from the very first film.
In my opinion, the choice to give Gordon the final word is the smartest move in the film, because it turns the series' central question around. In Saw (2004), the hacksaws in the cistern were a way out that cost something. Here, Gordon removes the hacksaw, and Hoffman, a man who built games for others, gets no way out at all. It could be argued that this is a punishment rather than a test, which sits oddly beside John Kramer's stated idea of giving people a chance, but the symmetry of ending in that bathroom is hard to dismiss.
Is it the last film? No. Jigsaw (2017) is set ten years after the film billed as The Final Chapter, as Slashfilm put it, and Saw X (2023) goes back to a point between the first two films. Mandylor even appears as Hoffman in Saw X. A new film, widely called Saw XI, is in development with Mike P. Nelson directing, according to TheWrap on September 24, 2026. The Saw timeline explained guide shows how the later films slot in.