The Morlocks locked themselves away and fed (literally and figuratively) off those on the outside. The Eloi did not realize they had the ability to break free until someone from another time came along and showed them the way. I see the Morlocks as the DC insiders and the Eloi as us "little folk" they have so little regard for.
The Morlocks and their self-imposed prison went down in flames. I took that to symbolize that those out of power can overthrow the tyrants.