I'm not saying I want a whole slew of returning characters at all. (Huepow and pretty much everyone from Phantomile should more or less be left alone) but I think Klonoa being able to finally relax with at least one familiar face, not counting the spin-off characters, would be a satisfactory way to end it; even if it leaves the fate of them both rather vague.
It's not just for shipping reasons. mostly, I think Klonoa's mental state and inner trauma is really something worth delving into, let alone his origins and what exactly he is. I never exactly liked that they tried to go back to seemingly making him more of a player surrogate, I get that was the original intention: but by the time DTP was finalized and even by LV, he felt like his own character rather than an avatar for the audience. It's a lot different from the usual mascots like Mario, whom typically aren't allowed to show much emotion. It's also why I feel the Wii remake really butchered DTP's original storytelling by removing a lot of Klonoa's own dialogue and having Huepow speak in his place.
I like Klonoa because he isn't like other typical video game protagonists, he has his own feelings and emotions from a rather traumatizing childhood. Even at the end of LV, I always saw that less of him "just accepting his fate" and just masking up a facade because he didn't want Lolo to suffer a constant shadow of guilt looming over him. Then again, I also interpret stuff like Grandpa's death in DTP as having a much greater affect on him and I imagine he never wanted to get attached to anyone by the time he entered Lunatea, still hurting from his time with Huepow.