I love that I really have no idea where they are going with this show. In the first episode, we see Cole change the past by scratching the future watch. After that, everything else seems to be a case of predestination paradox (notably demonstrated during Atari). Then, last week, we see an alternate future timeline that Cole seemingly changes, and now this week, it looks like they're back to the causality loop theory. At the same time, we apparently see the end of the threat that has been driving the story, except that we know it can't possibly be the end of things, if only because Cole hasn't yet gone back to 1987 and met Leland.
At the same time, even knowing that wasn't the end of Cole*, they've done such a great job with the characters and the sense of the unknown, that I really felt that it could possibly have been his death somehow. Or at least had that moment of loss. This show is just a real testament to strong writing, performing, and plotting.
(*Just occurred to me as I was writing that sentence, but what if that really was the death of Cole? And that the Cole that will be in the rest of the show, or at least the one that meets Leland in 1987, is actually the Cole from the alternate timeline of last episode? Maybe there are parallel Coles splintering through time?)