Most of the point of the 'save' system was to either put in codes to play as secret characters or so that you could go through the game multiple times to find all the secret characters and therefore get the 'good' ending.
His character just died, and he thinks it's AWESOME.
This game is also why johnny cage isn't in MK3.
The creators really seem to have BEEF with MK, too, since there are a few shots at Midway and MK in the game, including lines like "Who cares where Goro is?"
As far as the gory fighters go, it's a little better than Time Killers and a little worse than MK 1.