Morlun realizes it isn’t unraveling him, but the light coming from the wound is hurting Shathra and her crew. Silk turns out to be the chosen one, not Peter Parker after all. She takes the dagger and drives it into Merlin’s chest, releasing a white light.
Slott has tweeted on 4th Feb you will thank him later if you order spider-man #7 secret cover variant. Could be spiderverse 2.0 happening or at least an introduction and cover of a major new character.