Maybe it's the lack of sleep, but I don't get it.
We're building to something...
Well, it's obviously not a stand-alone; I'm guessing we're being set up for something big in the next strip. Redcloak is clearly about to do something he really doesn't want to do... I suspect all those cheering goblins and hobgoblins out there are about to die horribly.
I still think this more likely. In particular, the fifth and sixth panels are an obvious (well, obvious if you've read Start of Darkness) reference to his brother.You know, I was thinking he meant everything he'd lost already would be worth it...