Great film. A good story portrayed in excellent execution using commendable artistic visuals in film art. More than that, I like the character depth effectively conveyed in the limited scenes possible, considering this was achieved for each of the four main characters. Director used symbolic still-shot scenes to expound on the story development. Although I consider a flaw that one dreamy scene of inanimate characters, which seem out of place.
The Royal Tailor is a study of human insecurities that progressively builds up internal oppressive emotions, which holds back the person, suffocating and paralyzing himself into becoming less of the person that he is. This is true for both the royal tailor and the king.
In contrast, the other tailor is not only confident with his skill, he is a happy free-spirited being. So much so that at the point of death, he was able to transcend the moment without holding back. So in the end, it was the royal tailor who had a more tragic ending, waiting in futile hope for the king's visit while the world moves on to embrace his competitor's designs.