I can see one of two possibilities happening:
So this episode they don't show Shion's fate- that she was killed. But this actually makes sense from a pacing view:
Next episode, episode 8, the first half will be about Rimuru discovering that Shion was killed, and puts him almost at the breaking point. The second half, the Hope part, should be the Dragon/Demon Lord story... I forget off the top of my head who actually tells him about this story.
That means Episode 9 would be the Falmuth slaughter. And in all my experience of watching 12/13 episode series (even though it's split cour technically for this), Episode 9 is almost always where the Major Development occurs... and I'd say that slaughtering Falmuth counts as a Major Development.
Really, it's all about where Episode 8 ends. Either with the story and Rimuru meeting up with Falmuth, or making the decision to simply slaughter the soldiers. If they wanted to be REALLY evil, they'd end the episode with simply, "There... may be a way to save them", and then have 9 be the Story episode. Then you have 10 as the actual slaughter.
Which would leave the final episodes of this cour for build-up to the Walpurgis banquet... I'm assuming they'd end with Milim defecting and attacking the Beast nation, just so we'd have a cliffhanger for the second half.
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