I don't think it has to mean that Luke dies, Rey is not a Jedi right now so it could mean that Luke is the last Jedi and we know she found him.
It is no secret that she is on that island and we can assume that a large chunk of this movie will be her getting trained by Luke.
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"In brightest day, in blackest night / No evil shall escape my sight / Let those who worship evil's might / Beware my power, Green Lantern's light!"
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