I think the flitting wings at the end are meant to be the same butterfly seen at the start, which I’m gonna guess is meant to resemble Emma, because the butterfly flies away from the castle and out of FTL (ie: baby Emma), and then at the end we see Emma coming back to the same castle, where her parents are.
The dragon is intriguing. I’m inclined to agree that it symbolises Tamara in some way, given that we’ve seen her zap the Dragon, which could have potentially been her stealing his power.