The ending of the never - ending story might leave the audience with a feeling of confusion at first. They've been following a story that seemed to have no end in sight, and then suddenly there is an ending. But as they think more about it, they might start to feel a sense of fulfillment. The ending could tie up loose ends in a way that makes the whole 'never - ending' experience seem purposeful. It could also make the audience feel a bit nostalgic, as if they are saying goodbye to old friends in the story.
It can make the audience feel bittersweet. On one hand, they might be glad that there is some sort of ending to a story that seemed unending. On the other hand, they might miss the continuation that they were used to.