
The Archetype (angel-statue) is showing Jin Woo memories of the Shadow Monarch. Basically, Jin Woo is the most compatible human with the Shadow Monarch since he was always on the brink of death every time he entered a dungeon, hence the two hearts. The intention is to fuse the two together, actually, to 'revive' the Shadow Monarch. I don't know if I explained it well, sorry.

The question whether the Shadow Monarch is dead, I should say not really? I don't want to spoil too much but for the Monarchs' have a plan, and for that plan to succeed they need a human host. But no humans were able to handle the magnitude of their powers. The Shadow Monarch has power over the dead, and Jin Woo being 'familiar' with death made him compatible with the Shadow Monarch. The Architect (just recalled they are actually called Architect and not Archetype lol) didn't actually pick Jin Woo, there were many other candidates before him but they couldn't handle the power. The Shadow Monarch was too impatient and found Jin Woo himself xD
I'm hella confused about what happened this chap but I just want him to wake up before any of the cool side characters die!!! ahhhhhhh