How do you interpret the ending of "The Overcoat"?

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The final paragraph of this story, in which the ghost who has been stealing the overcoats of people is confronted by a watchmen, seems to be deliberately ambiguous. On the one hand, it could be viewed as the ghost of poor Akaky, who is now haunting the unjust society that allows the victimisation and bullying of the poor and weak by the strong and mighty. However, what is interesting about this final paragraph is the way that the ghost is described:

But the apparition was much...

(The entire section contains 248 words.)

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