Of course it did. He was a genius, after all! Everything went exactly according to his plan. The hero was tricked into fighting the dragon, and when he won, and the crown was up for grabs, the evil wizard swooped in to take it for himself. That's where everything stopped going according to his great plan.

[Finally, the point, and the climax, where the villain gets his just desserts. Magolor cranes to look up at Shinji, but just for a moment before he goes off into the distance again; this isn't a good story to tell with eye contact. Or any concession to its intimacy.]

The power residing in that artifact was too great and ancient, you see! It had grown a will of its own, more powerful than the wizard. As soon as he put it on and prepared to wield its power, it sank its teeth in and began to take his mind, and then his body too. Before too long there wasn't anything left of him but a shell with a great evil living inside.