Is Ink Bendy really evil, or just a mindless product of Joey's experiments with the occult? Chapter 5 confirms the latter, but by the time of Dark Revival, the Ink Demon is pure evil.
Did Joey really write to Henry to catch up on old times, and did he direct him to go to the studio to get into trouble, or was he hoping Henry would put a stop to his ink creations as his final audio log implies?
Henry knows how to fix and turn on the Ink Machine, but he's shocked on seeing vivisected Boris. How much exactly does Henry know?
Did Henry leave thirty years ago willingly, did he strike, or was he fired or drafted? DCTL confirms he left to spend more time with his wife, Linda. If the breakup was less than amicable, does Henry feel there's enough water under the bridge, or does he want closure from Joey?
The cartoon characters themselves have different interpretations in regards to their relationships with each other. Chapter Two, for example, introduces us to Alice Angel via posters, and two popular interpretations of her so far are that she was either the "Minnie" to Bendy's "Mickey", or she was Bendy's rival for the spotlight.
The ink monsters. Considering that Sammy seems almost made of ink in episode two... are theseformer employees? Chapter 5 later all-but-says this, with one of the secret messages on the walls: "Once People, Now Fallen Into Despair".
Twisted Alice/Susie Campbell. Was Susie forced to assimilate with Alice and become a monstrous toon-human hybrid, or did she do so willingly after she was replaced by a different voice actress that Joey liked better, to become the "true" Alice? Was Susie twisted into her current state because she was fired from the role of Alice and turned evil, or did combining with Alice drove her insane and murderous? When she claims "I had to do it. She made me", who is really saying that — Alice or Susie? And are the two still separate and self-aware personalities in the same body? It would explain Alice's mood swings between murderous and outrage, and what sounds like fear and despair.
With Susie's menacing tape in Chapter Four, one might say it's actually Alice who's despairing and the one who's good, but Susie is the evil one here, drawn and driven insane by the ink.
Towards the end of chapter three, listen closely, and you might hear Twisted Alice sob slightly before laughing manically and causing the elevator to fall. Could there have been a battle for control that the good personality lost in the end?
Who is Linda? Clearly she's someone important to Henry, likely a family member, but whether or not she's his wife, sister or daughter is hotly debated amounst the fandom. DCTL confirms her to be his wife.
Chapter 5 leads to several of these. The possibility that Henry is trapped in a "Groundhog Day" Loop in particular brings a lot into question.
Did Joey intentionally trap Henry in the loop? If so, why? Is he trying to fix everything he helped cause or is he trying to come up with a perfect story at his best friend's expense? Does he have reality warping powers, as hinted at with the storyboards that can be found in his house? The storyboards support this interpretation, as there's one depicting a "Ink Bendy Wins" scenario involving the "The End" reel, among others. Dark Revival confirms that the Henry we play as is not the real Henry, but instead a clone created by Joey to spitefully torture after henry's departure from the studio.
How aware is any given Henry of the loop? Is this the reason for his Dull Surprise? Does he forget every time a new loop starts? There must have been at least one loop where he realized what was happening, hence all the secret writing in Chapter 5 and during a New Game Plus. Dark Revival confirms that Henry is indeed aware that he is in a loop and his killing of the Ink Demon using the end reel is actually a loophole he discovered to reset the cycle.
How in control is Henry of his own actions? For that matter, how in control is Ink Bendy? Is he really evil, or is he being forced to play the villain?
Is Joey The Atoner, or is he subscribing to Never My Fault and blames Henry for not being around to be his Morality Chain? Dark Revival confirms he had the latter mindset during his creation of the Henry clone in the cycle, but turned to the former after meeting Allison Pendle and his creation of Audrey.
Joey has a letter from Allison Pendle-Connor and Thomas Connor. Is it a forgery? Were they turned into toons after it was written? If not, then who in the world are the good Allison Angel and the Tom-Boris?
Is the studio and the Ink Machine itself even real? During The Stinger an Ink Machine can be seen in Joey's house. During what we presume to be a flashback, Henry transitions from opening a door in Joey's house to entering the studio. Is Joey's house made Bigger on the Inside by the Ink Machine he has hidden within? Is the studio and its Ink Machine false and really just a warped room within Joey's home, created by the "true" Ink Machine? If not, then why on Earth does Joey have an Ink Machine within his own home in the first place? Dark Revival confirms that the studio and the Ink Machine in Bendy and the Ink Machine were part of a separate dimension and are not in the real world.
As with at the start of the game, is Ink Bendy evil? As the above interpretation of Joey indicates, he may not even be in control of his actions.
If he IS evil, then was he driven insane from forced isolation? Audio logs in this chapter indicate that upon his creation, he never did anything to hurt anyone, just wander around aimlessly and creep people out... Then Joey apparently had him locked up out of fear of bad PR for who knows how long somewhere in the studio. Going further, did his apparent lack of a soul help lead to him becoming the monster we fear throughout the game, or did it just mean he was an empty vessel? Does he even actually lack a soul, or was that just a theory made by Thomas Connor to explain to Joey why he came out off-model?
Does Ink Bendy want Henry's human soul, or his creator to otherwise complete him?
How involved was Thomas Connor in Joey's misdeeds? The only thing we know for sure is that he was aware of Ink Bendy's existance, likely even being there when he was "born."
During Ink Bendy's death he reaches out to Henry. Was it one last attempt to kill the man, or was he scared and looking for comfort from his creator?
Who was the little girl that was talking to Joey during The Stinger? Dark Revival confirms it to be one of Audrey's predecessors prior to the creation of the current Audrey.
There's several instances throughout the game, especially in Chapter 4, where Ink Bendy has opportunity to kill Henry, but doesn't. He even saves Henry at one point. Add the jumpscares he commits throughout the game and one has to wonder if he was even really out to get Henry, or if he was just trying to scare the man off to prevent him from using "The End" against him, only resorting to violence when Henry had the reel in his hands. Alternatively, if you go with the implication that Joey is controlling everything, then is it all an in-universe example of Joey doing an Ass Pull to keep the story going?
Is the Henry we play as even the real Henry Stein, or is he another creation of Joey, meant to play the hero? Doesn't help that we never get to see his face. Dark Revival confirms this theory.
