Crestfallen Studios

Perhaps the most overlooked character in the game.
A happy rabbit, munching along on his...grass. He enjoys life. He loves it. Then Rhue jumps otu of nowhere and bags him.
Dippy is mad and scared now. Then he sees his captor slain and is happy. A saviour! But alas, his saviour is his punishment for enjoying life. Strata uses D ippy, and DIppy is hateful. Thus begins the low life for Dippy, days racing other rabbits in the field, and nights spent with cheap rabbit whores and booze, wishing for the old days, when things were good.
But after one race, Rhue steals him again. And Dippy is glad. He will miss the rabbit booty, but he knows his new owner is stupid enough that he might get free!
Alas, for poor Dippy. Rhue carries him through a cave of monsters and Dippy has to help fight his way through! Then his owner acts like a moron infront of a cute girl and her friends before taking dippy into another cave, this one full of flying beasts of evil!
And all the while Dippy misses home. More booze, more cheap rabbit hookers...
But he sees a chance to get away suddenly! his stupid captor got tossed intot he pits! Good thing Dippy knows the way! He takes off running, only to get chased by an orc. He's about tos ucker the thing into running into a wall so he can use it's puppy as a giant puppet, but his captor kills his only tool for defense and takes him captive once more! THEN he takes him tot he center of the earth, lava filling every step.
Finally, he is simpyl stuffed into a bag and jostled around by Rhue as they travel, almost getting stabbed by a blue scarf during a fight.

NOW do you see why Dippy is the PS? All the boose, the bad rabbit whores, and his longing for home have twisted Dippy into an evil being beyond our comprehension.

And there you have it, proven at last.

This theory is quite old.

But it's WRONG.

Dippy is better known as the Pontifix Maximus Tetzel.

But none have given rpoof for the theory!
How could Dippy NOT be the PS given his hatred for humanity from what they have made him?
Humans forced him to go from a simple county rabit to a booze drinking, hooker banging hare. He despises them for such!

wait... hooker banging? Have I had the g rated version of the game the entire time!?

Indeed.
Int he unrated version there is clearly scene where Dippy beats a hooker to death with a golf club for charging too much.

I think even as it is, The Way would get an M rating for all the blood and violence (and drug use and sexual themes)...

And Traziun copping a feel off Strata in the plunge.
And Rhue commenting on how sweet it in to shove his sword into Strata.
And Kloe having sex with herself in another guise.

I guess those scenes were eliminated during the beta waves

Yeah, the Strata/Traziun relationship was really downplayed in the final version of E5. I was really shocked that Lun did that, because it seemed like he had something good going with the touching and feeling.

Who was the PS before Rhue caught Dippy then?

Actually, Dippy tranfers himself into Gaius body somewhere in episode 5 (this is why Gaius is much stronger than in ep1). He then leads Rhue into a cave by claiming it's the 'end of the way'. He leads Rhue further away while his mindless slave Strata blocks the way out. Dippy tries to convince Rhue to give him his 'sword' and we all knows what that means...

No!
Before Dippy was the PS is a simple thing to explain.
That shadow we saw wasn't the PS! It was just Gaius/Traziun looking for some action with the hot blonde chick.

Dippy is and always has been the PS. Not only that, but he's also one of the Blana Sera after they saw his PS skills.

I see no evidence to support these claims, while I give plenty.
Anyone who has seen the scene where dippy is smoking crack with a bunny hooker,m then proceeds to detail his plan of killing people until Rhue realizes where his penis is, will agree with me.