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This is a re-enactment of the Hindu holy epic Ramayan where the protagonist and God incarnate, Ram, defeats and kills the demon king Ravan, in battle. Hindus celebrate this victory every year - for ten days each year plays based on Ramayan are performed in villages, towns, and cities - ending in Ram shooting down an arrow into Ravan’s effigy which is stuffed with fireworks.
So yea, it's stupid from head to toe and ended EXACTLY as it meant to.