I just registered as I was going to make a topic on this after not seeing it brought up, I guess it makes more sense for me to just reply here.
I think this brings apart a very interesting question as to the nature of Eothas. I don't recall any evidence pointing toward the fact of him being one of the created gods of the Engwithans. Nor do I recall the other gods bringing him up(however I had neither Eder nor Durance with me during the Twin Elms section of the game and may have missed out on some dialog.) This brings upon the question whether he may have actually been one of the older gods Thaos refrenced(which would further push him into the catagory of a villian only focusing on the evil gods of past groups) or perhaps even more interesting if he was the only real god in the game's universe. What an interesting plot point that could be that man destroys the real god when he shows up to appease the fake ones. It might even make some sense as for his manifestation of Waidwen, he comes back to the world for whatever reason and sees imposter gods everywhere & decides to put a stop to them. Or another option could be that he was also man-made but created later than the pantheon of the Engwithans which adds another perspective that said pantheon was becomming outdated & replaced. If you read through the theology in game there are some light ties of the pantheon relating to Pagan culture and Eothas is the closest to the Monothiestic god of the New Testament.
I'm going to make a stretch here and say that some further content may revolve around resurrecting Eothas as a replacement to the 'man made' pantheon; with the forge God(Abydon) supporting the change as an evolution over the old system. Seeing as the plot centers around thought provoking theological questions this could bring in the other major debate in religion; the advantages of monotheistic & pantheistic faiths. The cause for Abydon being in support of the change would be to further refine the point that the Gods in question are all single-minded ideals brought to life; who will stick to their niche no questions asked. Panthiestic faiths generally center around Gods whom symbolize a single idea perfected, whilst monothiestic faiths generally have a single god whom may act contradictory at times.