While MI2s ending gives this impression, MI was planned as a triology, where in MI3 the secret of monkey island should be revealed. (Un)fortunately Ron Gilbert left after MI2 and took the secret with him, never to be revealed.
That's certainly the takeaway that the Monkey Island 3 that we got (Curse of Monkey Island) used.
Ron certainly seems to hint that it wasn't a trick by LeChuck and he had plans for what to do with that in the MI3 he never got to build, and likely never will get to build.
Given how much the games were based on the Disney ride and a lot of metatextual jokes throughout both of the first two games (prominent Cola machines throughout, as one easy for instance). It is possible that a literal interpretation of the ending of MI2 is warranted and whatever Ron had planned would have continued from there.
(Personally, I've grown to an impression that Ron was just as much pantsing the whole series as anything and even if Disney got it in their heads to give the entire IP back to Ron with carte blanche to design his own MI3 however he saw fit, I feel like Ron would have a harder time designing his way out of the box of that ending taen he likes to let on by teasing that there was a big secret he had planned. ;)