Raiden and Shao Kahn were voiced by the same person.
The ending is one for fans of Shao Kahn and/or nonfans of the franchise. Shao Kahn wins, killing everyone but Raiden, who is now his prisoner, and displays their personal items as proof they've been slain. He also gives an awesome speech while doing so, which is set to awesome music.
Shao Kahn: Let's see what gifts we have for our guest. A traitor...dead. Two sorcerers ...dead. A queen...dead. A daughter...dead. A bodyguard...dead. A thief...dead. A champion...dead. You... will... bow! To... Me.
Even better is that Shao Kahn used Raiden himself to lure Kung Lao, Siro, and Taja to their deaths, knowing that if he kept Raiden in Outworld long enough they would go to look for him.
Upon this revelation, Raiden tries to fight Shao Kahn and seems defeated at first, as Kahn doesn't fight fair and kicks him while he's already down. Even when Raiden brings out his magical hammer and calls upon his thunder powers, it's an even fight until the very end.
And just when it seems like Raiden will score a revenge kill, overpowering Shao Kahn, his powers fizzle out. The fight delayed Shao Kahn long enough to transport the entire city to Outworld, rendering Raiden powerless. Kahn finishes the fight by punching Raiden, and the camera, out.