There will be no more "cycles" in my game. This time the Kalpa will not turn over. This isn't game lore, it's just what I have decided is happening in my game for role-playing purposes. So please, don't say: "You're wrong because (reasons)." I'm not trying to convince anyone else of this. The following is MY role-playing take on what is happening in my game only.
The cycle has continued all these repetitions looking for the "ultimate expression". This is the final cycle. If Alduin succeeds, Mundis ends. No more cycles. If the Thalmor succeeds, the cycles will start anew as this "ultimate expression" has failed due to their tampering. (This nearly happened with the Dwemer and was barely avoided.) If Alduin is defeated, there will be no more cycles as this Mundis is stabilized for all eternity. The long-term result of this is that Tamriel will slowly develop technology (so very slowly due to the fact that magick and alchemy do so many of the things that we use tech for.)
The Aedra and Daedra sense this but cannot quite wrap their minds about it. They are slaves to the cycles and even if they can understand it intellectually, they simply cannot believe it will actually happen. Mortals (even the Dragonborn) are oblivious to this with the exception of the Greybeards and a few individuals. Alduin certainly understands this -as well as Paarthurnax. As my Dragonborn character absorbs dragon souls and then defeats Alduin (hopefully, I might flub it) -then he will slowly come to understand just what is transpiring.
Let me repeat. This is my interpretation of Mundis. Strictly for my personal enjoyment.