I hope not! There has yet to be a game set in Black Marsh, Summerset Isle, or Valenwood for instance. That's three more Elder Scrolls games right there! D=
It depends on what they think though. Is the story over? I dunno. It could be over. Todd seemed to imply as much.
But it could be he's talking about this story arc. It could be that in Elder Scrolls VI, we start a new story arc that takes us to more Elder Scrolls adventures.
EDIT: Even if they killed your character off in one Elder Scrolls game, dosn't mean you can't make a new one in the next.
No, the only way I'd see them ending it is if the player character became the emperor.