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The Marvel Cinematic Universe has already set up five villains more powerful than its current big bad, Kang the Conqueror. While the 31st-century time traveler is the overarching villain of the Multiverse Saga, he isn’t necessarily the greatest threat lurking in the MCU. Marvel’s Phase 4 projects indicate that like the world depicted in the comics, the MCU is filled with characters capable of threatening not just the Earth, but the entire universe.
Of course, the heroes of the MCU are expected to be busy for a while with Jonathan Majors' Kang the Conqueror. Looking at the number of appearances he’s expected to have by the end of Phase 6, Kang is looking to cast a long shadow over the MCU. In addition to fighting Earth’s Mightiest Heroes in Avengers: The Kang Dynasty, he may or may not return as their opponent in Avengers: Secret Wars. Given the heavy amount of attention given to Kang right now, it may be easy for other, potentially more powerful enemies to be overlooked. Depending on how they’re utilized, they could be villains in projects releasing after Phase 6, if not before. So far, Marvel has set up five villains more dangerous than Kang.
Chthon Doctor Strange in the Multiverse of Madness laid the groundwork for Chthon to enter the picture at some point in the MCU’s future. Directly mentioned in the movie by Wong, Chthon was described as a demonic being and the author of the Darkhold. Apparently, it was he who crafted the prophecy of the Scarlet Witch. This development was taken straight from the comics, where Chthon was revealed as the reason for Scarlet Witch’s destructive potential. In Marvel Comics, it was said that Chthon, centuries after becoming entrapped in Mount Wundagore, infused a fraction of his Chaos Magic power in Wanda's body at the moment of her birth on the mountain.