It seems to me that the statue looks ancient, and therefore must have something to do with the fact that the island is not frame of reference as the rest of the world (time on the island is not the same as time on earth). We know the statue is at least older than the orchid, but I believe that more remains of this ancient civilization, perhaps explaining the origin of the ruins on the island, would naturally be somewhere near the statue. Being the devious fucker they are, the Others have probably found a mysterious purpose for those ruins. I really don't think there is another faction on the island, at least not at the "present" time. We would have seen something by now, it is an island after all.Or at least it looks like an island...
More magick and power methinks. I'm guessing it's sacrifical ruins of the natives, the people who inhabited/were born on the island originally. There is tremendous power at that site that allows people to control time and space. My guess is this is where Jacob and Richard Alpert got their powers first when they crashed on the island. As for the natives still inhabiting the island? I think not but they might be in hiding under the ground, like the shadow monster.
I have seen a good answer to that question on another forum.
"What lies in the shadow of the Statue?"
"The burried Jughead."
Hahaha they were right kind of. I'm not sure if that area was in the shadow of the statue considering last week's episode showed a preview of the statue and it wasn't underground it was on a mountain or hillside I forget.