We're still in the starting line of Lin Xiao's journey with his villain system. I know that but the way this is set up really makes me think that Ye Chen is going to be forever the bad "Protagonist".
Ive seen the "Heavens protection" in Nine Star Hegemon Arts novel. Basically they are unkillable until their heavenly fortune are to be completely exhausted or something like that. With that in mind, we're seeing that Ye Chen is losing a lot of fortune including his biggest fortune the old man in the ring. But its also obvious that Ye Chen is going to jump onto the dark(demon) side and the old man had said that, as long as he goes somewhere else out of Qinglan sect, he will be able to eat the fortune there instead. So i really think that this wont go like the usual villain system pattern of changing the "Protagonist" but its undoubtable that there will be other Heavens Chosen that Lin Xiao will have to troll against to get his system benefits.
You know what, I think i know one manhua that has one persistent "Protagonist" so maybe Ye Chen is just having that same role. Just need to wait for other Heaven Chosen to appear.