In theory, but without knowing where we are and to what extent our souls can travel from here, I can only make certain extrapolations. I expect this ritual is intended to capture souls, a rather common offering to a god of any nature.

Normally, upon death, you would find your soul now separated from the physical and returning to the Fugue Plane. From there it gets more complex, but as I've said, I don't know that getting to the Fugue Plane is even a possibility from here. I expect our fate here is to be consumed.