why do you ignore champions they have failed to kill or otherwise cannot or will not kill? they are not perfect beings and they can be out played and tricked otherwise sion could never have revived, and the ascended wouldn't be immortal.
in short, yes that is indeed the ruined king, they attempted to end him and failed to do so, heck the splash art is even clearly in the shadow isles, you can see the lands life starting to decay and only a small grassy part still lives where he lays bleeding out, his crown is embedded in the ground where it fell, heck the trigger for the spell was probably him dying which then revived him as the ruined king.
"Once, he was a noble king, until grief overcame his reason. In the end, it was not his blade that stole our lives."
― KalistaSquare.png Kalista
Here Kalista describes the nations downfall, she implies that in the end the king was not responsible for the death of their people, so she blames the king but not completely, interesting.
"The powers that govern life and death are not to be trifled with. The Shattered Crown is a king’s reward for defying the shadows’ embrace. I believe we are meant to ponder mortality through poetry and verse, not enslave it to our will."
― Ionian storyteller
Here we have a tale describing punishment for researching ways to defy death, along with all of this we know the spell was originally meant to bring the kings daughter back to life, but maybe kindred killed him during the ritual but instead of the spell stopping it latched onto the king instead and arose as a member of the undead bringing his whole kingdom with him.
To me this heavily implies that kindred did kill the ruined king but did so as the king was casting the spell and so without a target the spell hit the caster and the entire kingdom in which he ruled, Shurima suffered a similar fate when xerath interfered with the ritual disrupting the the intention of the magic but not stopping it.