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Originally Posted by Jamie
I was in on the variant Loki theory (it fits the best thematically) until this most recent episode. After a room full of Lokis it would be a little underwhelming to have it be another Loki. And what would be the version? Best Loki? I guess it could be. The Loki that won trying to keep potential rival Lokis down by maintaining the timeline where he loses and dies.
I guess I still I think Immortus (who I maintain is distinct from Kang) is most likely. Another possibilty that I haven't seen discussed much is that it could be a variant of Ravona, or even Mobius.
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The problem with introducing Kang, or any other new villain at this point, is that it's just too much to pack into the finale. There just isn't enough time to fill in Kang's backstory
and provide a satisfactory conclusion to the series.
Ant Man-Quantumania won't be released until some time in 2023, so it would be very strange for Marvel to use him as the main villain of
Loki when he won't be seen again in the MCU for another 2 years.
I think it's more likely that a Loki is behind the TVA and our Loki defeats him, freeing all of the remaining Loki variants, including Young Loki, who will eventually appear in the Young Avengers.