Rather than Oedon being the Doll, I think that the Doll is an aspect/ part of Moon Presence. My doubts are evoked by a number of reasons: 1) Why would Oedon possess the body of the doll? What does he seek to do with Gehrman, and the hunter; whose goal was to kill his surrogate (not to mention the basement baby which is no doubt Oedon's as well). 2) Why would Moon Presence as the creator of the dream, as one who seems hostile to all other Great Ones let Oedon inhabit the dream, so close to the hunter (Gehrman, or you yourself) which she seems so possessive of? Rather than Oedon, I feel that the Doll is an aspect/ part/ fragment of Moon Presence, and furthermore, that she is the Hunter's dream.

Why would the Doll be the dream? From Micolash, and from Gehrman as well, we see that a host of a dream does not support the dream; in both cases, the dream remains despite the death of the host. Furthermore, the dream remains even if Moon Presence dies. Who remains to support the dream? You, who was a guest/ inhabitant of the dream, and the Doll. When Gehrman is killed, he becomes dust; it is only when your mission is complete, when you are capable of being Gehrman's successor as the dream's host can he actually be harmed. Yet the doll can bleed, but when she does, she is simply reborn without a trace of memory. Yet, as we learn from the Doll's Tear Stone: "A doll sheds neither blood nor tears and thus its nature remains unknown. Whoever thinks this is precious must be troubled by severe naivete." What I don't think the quote means is that a person who thinks that this anomaly, or perhaps miracle is precious is naive, but rather that, a person who doesn't become suspicious, and thus very worried/ wary of the doll is naive. The doll is not a doll; it is a (fragment of a) Great One! Just like how one requires a great amount of insight to see the Great Ones lurching on, and within the cathedral, one needs a semblance of insight, the symbol of a hunter's potential to replace Gehrman - to grasp the truth, to slay the other Great Ones, and survive/ succeed the Hunter's Dream - in order to meet, and use the Doll.

I contend that the Doll was both Gehrman, and Moon Presence's "answer". Gehrman who was forced out of purpose with the decline of the Hunter's Workshop grasped the Umbilical cord, and become a host to a dream, much like Micolash. it is in that dream that he communed with the Great One Moon Presence. Moon Presence's gift was the dream itself, and the doll: the manifestation of the dream within the dream as a companion to Gehrman. As we know form the Moon rune: "The Great Ones that inhabit the nightmare are sympathetic in spirit, and often answer when called upon.", and no doubt, Moon Presence was sympathetic to the loneliness in Gehrman's heart, and like all other great Ones lost its own child. In Redgrave's The Paleblood Hunt Redgrave makes note of the word "conceive" in the Umbilical cord description: "The word conceived is very important here. The Oxford English Dictionary gives the word conceive two different meanings. The first is as follows: Form a mental representation of; imagine. This is the first definition the player infers from the context of the sentence. However the other definition is as follows: Become pregnant with. Considering how much of Bloodborne is centered around birth, rebirth, pregnancy, and motherhood, I find it very hard to believe that the use of the word 'conceive' in the Cord of the Eye is purely accidental. Gehrman was terribly alone and terribly miserable in his isolation. All of the Cords of the Eye are found from women; one from the Wet Nurse, one from Arianna, and one from Iosefka. The exception to this rule is the one found in the Workshop, until you consider that it's found directly next to a woman. Not a human woman perhaps, but a doll of one. Perhaps in Gehrman's madness and his love of the doll that was his only companion, the Great Ones took notice. After all, the Great Ones that inhabit the nightmare are sympathetic in spirit."^pp84-85 The Doll of the dream, as the dream itself, was conceived by both Gehrman, and Moon Presence: the form of the Doll was given life by the Moon Presence, as well as the place in which she would exist in, and live with Gehrman. And this doll was not merely a living version of the doll in which Gehrman loved, but one which loved as well. As she tells the hunter: "Hunters have told me about the church. About the gods, and their love. But... do the gods love their creations? I am a doll, created by you humans. Would you ever think to love me? Of course... I do love you. Isn't that how you've made me?" Here the doll is asking about the Moon Presence, talking about the hunters who she has watched over, and asks you, the current hunter a question she might have asked before. She was made to love you; just as she was made to love Gehrman/ serve as his constant companion. Yet why is she unsure about the love of Moon Presence? Of Gehrman? A more about this a little later. As I was saying before, the dream was conceived by a union/ communion between Gehrman, and Moon Presence as a way to satiate Gehrman's loneliness, and his desire for a purpose, and give Moon Presence a surrogate: not the Doll, but Gehrman. The Doll was one part of Moon Presence that both it, and Gehrman could be assured of never leaving. The Doll would support the Dream, and be Gehrman's companion: it would love Gehrman, and Gehrman would love it, and by extension, the Moon Presence. But in the same time, it was its own, and Gehrman's prison. The Doll is certainly not capable of existing outside of the Dream, and Gehrman is mortal no longer, now the Dream's host. Yet this situation would soon lead to tragedy.