At the good end of the game he sacrifices himself on Iblis. However there is a CG during the credit role that implies he may have survived.

http://youtu.be/fz-TYJbHjJw?t=3m16s

Your thoughts?

I don't know if you know this, but there's two endings. Well, to be accurate, there's two second halves of the game. The split comes in the episode with the Mars Angels. If you kill more enemies than them, you get one ending (the one where he sacrifices himself) and if you kill less, you get the other ending (where, I'm quite certain, he still dies). In this other half of the game, he gets betrayed quite quickly, if I remember, and ends up hospitalized, as that graphic shows.

In the bad end route he gets betrayed and dies on a deathbed in the Saoshyant, right? Is that where the graphic comes from? Because he does not look close to dying from what I can see.

Honestly, I can't remember if he dies or not, as I haven't beaten the game in a while (though that WAS the ending I always tried to get, since, despite being the bad ending, it actually has more survivors than the good ending).