It's both.
It signals us both, the end story, story of V's journey for now and what our V became through different choices. We see V but we also see end result by not only having V there, but if you think of it, each V ends up in different situation, we get presentation about V going toward different kind of goal, sometimes even everything may look like it's falling apart (the Devil).
I didn't go deep in this earlier in this topic, but this is achieved by having 3rd person cinematic only in the endings.
If the expansions take place post-ending, could they be in 3rd person? At least the Sun and Star endings imply that there was more to do; especially Sun ending.