I thought of that to, but if oden says he old now..means he hiding all this time. plus there are signs someone was already on island fighting offscreen. and they only showed up when kinemon and rest started to attack kaido island.
oda been hinting it from before.
the cave
momo see someone beat up the guards, and wrote message gya gya, wa, wa
!?????? there someone unknown who is laughing, and fighting...
then later.. the spy see someone else helping the survivors. more clues from oda! before he revealed it..
but
imo, if oden is old, where is tengu in this setup? since he was built up as a character to look after tama! we see tama on island helping, so make sense tenguyama shows up...but instead it's oden!?
both are old...though.. i don't like disguise hype clickbait. If go back to tenguyama introduction, he stated he can't be seen by kaido man, hinting the old man (same age as oden would be..) is hiding behind a mask and new costume/identity etc. plus the older oden has new swords... and tenguyama can craft swords.
i personally not fan of someone taking oden image, let him rest in peace. if he dead. So imo it has to be oden.
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I want to know now
did tenguyama help oden off screen, or did oden disguise himself, watching over his people and helping low key?
damn he must been lonely, waiting for his friends. if it's true!