Same dance, different tune. (Not to say that we don't enjoy the show.
)
Tuska, the World-Eater was supposedly capable of game-changing carnage as well and you've seen what that amounted to. Safely dead and conveniently out of the way.
Nothing we do out of personal choice in quests or as a collective via World Events seem to have any long-term consequences if it's not in the interest of the powers that be. We're just given the illusion of choice. Bandos & Tuska were both slated for the grave before their events ever started.
To give a perfect example that I think will resonate with a lot of people - Zaros stated in Fate of the Gods that if the player chose to sabotage his body, it would eventually fail him and he'd face death if he doesn't accomplish his goals before it rejects him. Do you really suppose they'll allow Zaros to die? They'll find a way to tie that loose end regardless of player choice, whether he becomes an Elder or not is immaterial.
But, anyway, to answer your question of a genuine imminent threat producing anything consequential - Nope, don't believe so.
All Hail
Brassica Prime
!
I have a fever and the only prescription is
MORE CABBAGE.