The Dragon Timeline and Summary

Grendel "falls toward" the dragon after a particularly bad session with the Shaper.
Grendel finds himself standing in the dragon's lair, faced with something he's never seen before: a creature bigger and scarier than he is.
Grendel has a disheartening chat with the dragon, most of which he doesn't understand.
We learn that the dragon can see all time zones: past, present and future. This includes the destruction of most things, including himself and the earth.
The upshot of the meeting? Life is meaningless, and there's no point trying to make it better. We're all going to die.
The dragon advises Grendel not to resist his role as the bad guy: he's good at it, and it doesn't really matter if he changes. At least, says the dragon, Grendel gives humanity purpose and identity.
Grendel resists, anyway, but he feels that there is truth in what the dragon says. It's a major turning point in his life.
Though the dragon doesn't reappear in the narrative, Grendel can smell his scent whenever the creature's theories are confirmed
Grendel also recalls the dragon's shtick about all creation being a "meaningless swirl in the stream of time" when Beowulf is ripping his arm off. We guess he didn't believe the wise worm until that moment.