Ultimately means in the end, once everything has played out. The talks ultimately collapsed. The film ultimately made its money back. Whichever road you take out of the village, you ultimately reach the same roundabout.
The second use is not about time at all but about getting to the bottom of something: it is ultimately a question of money means that when you strip away everything else, money is what remains. Position tells you a lot — at the front (Ultimately, we had no choice) it introduces the conclusion of an argument, while in the middle (we ultimately agreed) it reports how events turned out. It is a step more formal than in the end, and it carries more weight than eventually, which says only that time passed. The family around it is worth having: ultimate, the final one; ultimatum, the final demand; penultimate, the one before last.
1adverbultimatelyIn the end, after everything else has happened.
“The company ultimately withdrew the product from sale.”
synonyms: eventually, in the end, finally
2adverbfundamentallyAt the most basic level, once everything else is set aside.
“The decision was ultimately about money, not principle.”
synonyms: fundamentally, essentially, at bottom
Also accepted in games: eventually
From ultimate + -ly.
Etymology from Wiktionary, CC BY-SA