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Warning: spoilers for Loki season 1, episode 1
Summary

• Loki season 2 retcons the Kang twist from season 1, revealing that Loki traveled to the past instead of a future where Kang took over the TVA.
• The revelation of time as a circle in the MCU makes the multiverse more comprehensible but also more dangerous, hinting at the inevitable return of He Who Remains and potential changes to his plans and goals.
• Loki season 2 may be setting up a new villain, moving away from Kang the Conqueror as a key character in the MCU, with the introduction of Victor Timely and the Council of Kangs in Ant-Man and the Wasp: Quantumania.

Loki season 2 has already retconned season 1’s shocking Kang twist from the finale, hinting at bigger changes coming up in the Marvel Cinematic Universe. Thanks to his variant’s actions in Avengers: Endgame, Loki is now back in the MCU in his own TV series, through which Marvel introduced the Time Variance Authority (TVA) and delved deeper into the concept of variants and how the multiverse works. Loki season 1 ended on a major cliffhanger after the surprise introduction of He Who Remains (Jonathan Majors), a variant of Kang the Conqueror.
Loki and his variant, Sylvie (Sophia Di Martino), made it to the Citadel at the End of Time, where they met He Who Remains, the creator of the TVA. He Who Remains explained that a multiversal war between his variants led him to create the TVA to manage the timeline and prevent another multiversal disaster, but Sylvie ended up killing him. Sylvie sent Loki back to the TVA thanks to a TemPad, where Loki discovered that the TVA now had a giant statue of one of He Who Remain’s variants, believed to be Kang – but now, the first episode of Loki season 2 has retconned this Kang twist.