In the latest chapter Kaido went on to explain his plan, which involves transforming the Flower Capital.
As Orochi objected, Kaido promptly decapitated him.
Anyway I highly doubt Orochi is actually dead.
There are 2 ways I can see Orochi being alive.
1- It was a Kanjuro drawing, and they’re just tricking the citizens. But personally I doubt this theory. Because why does Kaido need to trick anyone? Very simple, do what he says or die.
2- Orochi’s Mythical Zoan-type devil fruit Hebi Hebi no Mi, Model: Yamata no Orochi. We all know Mythical Zoan devil fruits give the user more powers than just turning into a animal. I do understand that Orochi isn’t a the Greek Hydra, but having the multiple heads, and then getting his head chopped off can’t be a coincidence.
But in this scenario where Kaido did intend to kill Orochi, what is the use of keeping Orochi alive? He now has no powerful force backing him. So the question then becomes, what can he do now?
Many fans want Orochi to suffer at the hands of Oden’s Scabbards, maybe this could be the reason to keep Orochi alive.