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My perception of the "Death of Neo" is that it is highly influenced by the King Arthur legend, as if the champion will return when he is needed. When Neo was unplugged by the machines he was taken away on a platform much like King Arthur was taken to Avalon by the women of the lake.
No if there is going to be a 4th film I think it would have to be focused on either the Oracle vs Archetict or be about the Mavageion (French guy).
To me the directors had to many ideas floating around with too many sub plots in the movie which ended up being a clusterfuck. No was this suppose to be a love story, the choice to make your own fate, the ultimate action movie of pop culture?