What is Mib...really?

we know him by Mib, Flocke, Nemesis, Smokey, but we have no idea what he really is other than a smoke monster who was once a man who is now another man, and can take forms of dead people? Its starting to seem like smokey is just the pure essence of evil. The whole scene with jacob talking to richard using the bottle of wine to explain mib really got me thinking. When Jacob said the cork or the bottle was what was holding that evil back from the rest of the world, so the island is smokeys prison cell. With that being said, wouldn't it be amazingly awesome if at some point in the final episodes we see Smokey escape and just run shit through Manhattan?

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