I could've done without the repetitive back-tracking.
And sure, pixel art games are cool. But your making my eyes hurt (x_X)
My interpretation is this.
There are two way we can react to this.
At first, one might be angry that the villagers killed the Giant's only friend.
But once you take control of the giant, you see the 'tremendous' force the creature really is.
Do the 'scared and misunderstood' villagers really deserve the scorn and detest of the giant's wrath?
That's entirely up to you.
And I 'did' kill a few at first.
But the one's that didn't attack me....I saw those tiny pixels shivering.
It was at that moment I realized the harshness of my angry actions.
And I became no different than the scared villagers who killed my only friend.
So I wondered off, leaving the rest alone.....and myself....alone....but relieved of my revelation.