The Fellowship of the Ring Werewolf

[Mick the Drunk]

Do we deffo lose if all the ring bearers get killed even if we still have more villagers than wolves?

The Fellowship wins by eliminating all the Wolves and successfully chaperoning the One Ring to the fires of Mount Doom, cleansing Middle-earth of its greatest evil.
This sacred duty falls uniquely to the Hobbits among you, a burden few can comprehend.
Should the line of Ring-bearers be extinguished, the quest to destroy the One Ring fails, and with it, all hope for Middle-earth.
Yet, the Ring itself is a persistent and powerful force; even if its current bearer falls, its fate may not be sealed, and its dark influence may still be resisted.
The Wolves win when their numbers equal or exceed the number of Villagers, successfully corrupting or overwhelming the Free Peoples of Middle Earth.
The Serial Killer wins by gaining parity with the village & wolf teams, claiming the ultimate prize for themselves amidst the fiery ruins.

It isn't very clear what happens, did anything like this happen in the lore?

The wolves win conditions mention reaching the same number as villagers so reads like they still need to get to parity. The weird line in their conditions is the use of the word exceeds - wolves would never usually exceed villagers as the game usually ends when they equal the village number