The entity's true Identity.
I already told reddit, but everyone's gotta know! The entity is just thr providers from star trek endlessly betting quatloos with each other.
"200 quatloos on the Dwight contributing nothing, and still being the only successfully escaping survivor"

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Isn't Q more likely to be The Entity?
You're right. Q would have the most fun with it. He'd probably be overjoyed watching the survivors overcome the trials, that he affectionately calls "the games". The depths of human madness vs the highest hights of human ingenuity, what show would be more worth watching for him?
"Trials captain? Oh my dear captain, no! that implies I'm rooting for one particular side to succeed. I assure you I care much less for the outcome, than the games themselves."
"ILL TAKE 1000 QUATLOOS ON THE FREDDY RUNNING WHISPERS,BBQ, AND TINKERER"