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Warning! This article contains spoilers for Loki season 2, episode 5.
Summary

• After the events of Loki season 2, episode 5, the MCU has set up the adaptation of a major Marvel Comics arc, changing Loki's title and character development in a satisfying way.
• Loki gained a new superpower in controlling his time-slipping, allowing him to rewrite stories and narratives, setting up the transition from God of Mischief to God of Stories, as seen in Marvel Comics.
• Loki has outgrown his God of Mischief nickname, now realizing his mistakes and embracing his new purpose to change the universe for the better as the God of Stories, with the support of his found family.

After the events of Loki season 2, episode 5, the MCU may have finally changed the titular character's title by setting up the adaptation of a huge Marvel Comics arc. Loki has served as an interesting case study for the MCU's beloved God of Mischief across its two seasons thus far. In taking a character whose redemption arc was seemingly complete by the time of his death in Avengers: Infinity War and essentially reviving him, the MCU took the huge risk of tarnishing a solid conclusion in an attempt to position him as a more integral character to the future of the franchise.
However, by the time of Loki season 2, episode 5's ending, it became clear that this gamble paid off for Marvel as the studio has crafted a deeper exploration of the Norse-inspired villain-turned-hero and redid his emotional arc more satisfyingly than many thought possible. Through Loki season 2, episode 5's various Easter eggs and references to Loki's emotional story, as well as the close bond he has formed with the show's other characters, Loki gained a new MCU superpower. This power sets up a complete retcon of the titular character's God of Mischief moniker and the adaptation of a major Marvel Comics arc.