If God of the Abyss (2) is anything to go by, the IoE is supposed to be the collective consciousness of humanity, the ego of universe of Berserk (which we can assume to be the same as ours), and just quoting directly, "Humans desired reasons, reasons for pain, reasons for sadness, reasons for life, reasons for death. Why were their lived filled with suffering? Why were their deaths so absurd? They wanted reasons for the destiny that kept transcending their knowledge...and I produce those, as it is what I've been brought into existence for, I control fate. Obeying the will of the essence of manking I weave every human's destiny... I created the lineage that would give birth to the man you are and created the appropriate context for you, all the encounters you have had so far were all part of the destiny that led you here as well..."
The IoE really sounds like an anti-Force in that in comparison the Force always ensures that the good things will always happen (such as the Jedi always winning) the IoE always ensures that bad things always happen.