Doc purses his lips and shrugs the kind of casual, small, nonchalant shrug a man gives when he's used to it not mattering what he thinks. To him it's just as likely as the conclusion that the Shadow Man has some vendetta and is out to get them. He can't infer any intent based on what he's seen so far, other than the wretched creature being a touch aggressive and hostile.

"I think if he wanted us dead, we would be." Whatever role he has to play in Mathias, that they're still alive is not insignificant.

"This town don't half-ass things." Other than what might or might not have happened to Claire - they don't know who or what was responsible for her death and subsequent disappearance - Doc has read the rebuffing as warnings. Broken bones and scratches and the like. When the gunslinger pulls, he draws to kill. Raylan is the same. They don't half-ass things, neither. So why should the Shadow Man just, quite literally, blow people off rather than break their necks?

"You know what they did in Georgia to the locals, not all that long before I was born? What we did. We killed them. Took their homes. Gathered them up and marched them out, left them to die, all for a few hectares of cotton fields. If I was a Shadow Man and a bunch of settlers showed up one day 'cross the ravine taking the homes and eating the food, started hollerin' and throwin' things my way, well, shit. I 'on't need to tell you how that looks."