One idea could be a rengoku fanfic where he trains a new group of young slayers. It could focus on his unique teaching methods and how he instills his values in them.
Tanjiro would be a great character to pair with rengoku. Their different personalities could create an interesting interaction. Tanjiro's kind - hearted nature and rengoku's fiery determination could lead to some great storylines.
The world would be in shock. The media would be filled with reports of his death. Civilians who had always seen him as a symbol of safety would feel vulnerable. There would be mass mourning in the cities he had protected.
Ryuk would probably just be amused. He is a Shinigami who has seen a lot in his existence. Fanfiction is just another strange human creation to him. He might chuckle at some of the more outlandish ideas in the fanfictions, like a character having superpowers beyond the Death Note.