That's actually a really solid theory. It has its holes (that everyone else has posted), but the parallels between Mara and Savathun are still pretty strong. I guess by that logic, Shaxx would be Xivu Arath, and maybe the Exo Stranger would be Oryx?
English
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Oryx's last words in the raid when he pops up at the end "hang on hang on I have time to explain!" dead.
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Xivu Arath's nature was testing her strength. I doubt she'd take a disguise. That of Oryx was curiosity, hence how he learned to Take and how to use celestial bodies as weapons. Cunning belonged to Savathun, who alone among the three used deception to achieve her victories. If I am right about this, I think the theory stops with Savathun.
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I realize there's like a 0.1% chance of those things coming to fruition, I was just drawing some fun parallels. Well, that, and I had an image of Shaxx saying "I am the Crucible! I AM WAR!!!" And then transforming into Xivu Arath and slaughtering everything withing a ten mile radius.
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THAT. WOULD. BE. EPIC. imagine Shaxx saying that in a random crucible match than you see at the bottom left corner of your screen, Shaxx has joined the match. He spawns in with a sword and Ghorn and just wrecks shit. T-bagging everyone. Git rekt Guardian.