I mean, it is plausible, but while some of Ajokli's traits certainly line up, others really do not. So, where Ajokli is the Prince of Hate, he is also a trickster, something that doesn't really describe Cnaiur. I think, more likely, is that Ajokli takes the mantle of Cnaiur because there is overlap and so, in that sense, there is an "opening" for which Ajokli can come through.
I agree. I would be a little disappointed if Ajokli was Cnaiur in truth. As bad as he was, he had some principles and focused his hate mostly on the Dunyain. To become the greatest evil known to man would be surprising to me. Ajokli also tries to ally with the four mutilated Dunyain which I cannot imagine Cnaiur going along with.. unless it was trickery, which does not fit well with his character... I don't know, perhaps Godhood scrubbed away his personality. That would be kind of a let-down.
Hopefully, he becomes a separate entity in Hell. One which may challenge Ajokli for ruler-ship of Hell