If they ended the season with Kenny dying... I would actually find it fitting and quite funny. After all, we have been rooting for the bad guy the past four seasons.
Plus McBride and Hill certainly have no qualms with going to dark places.
You're right - we've essentially been rooting for the bad guy. He's an asshole, but we find his crudeness and arrogance charming.
I'm thinking Kenny's true death will be total public humiliation and a fall into complete and total obscurity. No family, no friends, no fans. He wanted the fame, and to get it he destroyed many things around him.