Is Euron actually a red herring?

[OberynBlackfyre]

I really, really hope not. 
It would waste A LOT of the cool black sorcery and Lovecraft imagery, not to mention a lot of the foreshadowing that is setting him up to be the human big bad of the series.  
 

with Euron sure he is in essence somewhat a con man, but he’s more like a cult leader. And there is a difference, especially in this world. 
 

Euron has said he’s sailed to Valyria and he has more than one way of seeming to back that up, not to mention he is one of the few bad characters that take the true sinister approach- caring only about what’s important, but not making himself seem important.  He sees kingship in the Iron Islands as a means to an end. He doesn’t give a shit about the Seastone chair really.  But he needed the Ironborn to listen to his word. And he did so by being very open handed with plunder.  He conquered the Shields not to bolster his name, but to give them away right at the moment he got them to win over men, and to in essence shield HIMSELF from any diss grace when the Shields are lost. 
 

He is a true shark. Swim, eat, swim. Keep moving.  Don’t get complacent until there is no one left to stand against you. 

[Alexis-something-Rose]

It occurred to me that Euron could well be a new version of the Night's King.

Let's put this in spoiler tags, just in case.

Spoiler

 

The woman beside him in Damphair's dream sounds a hell of a lot like she could be a female Other. 

The others have been described as shadows repeatedly and this terrible woman beside him is described as a terrible shadow.

Hands alive with pale white flame suggests that it's not exactly the fire that we know since fire burns orange, yellow and red, but rather "cold fire" and perhaps the ice magic of the Others.