@Munakoiso
It's also a reference to the name Palparepa gave Genesic GaoGaiGar, "Hakaishin," or God of Destruction.
In this instance, Overlord could potentially work due to various usages of Overlord with different literal translations of kanji. For example, Overlord can be used for Demon Lord, as well, since "Maoh" is used for Overlord in other Japanese fiction.
However, I would much rather see it as something along the lines of "Lord of Destruction" which flows a little better than "King of Destruction."