I see a contradiction
1) Fans want Loki to be the King of Elbaf.
2) Fans want Loki to be the War God.
The problem: Harald and the current giants don't want to go back to the old warrior ways. In other words, they don't believe in the philosophy of the ancient giants which included things like genetic supremacy and warrior honor.
The confused detail: Loki is often seen as respecting the wishes of Harald to help the kingdom of Elbaf prosper, but it's possible Loki doesn't care about that at all. He could have just been helping Harald because he's his dad. In other words, he doesn't care what the people of Elbaf want, and being their king would contradict his whole life and his belief that Xebec was right.
If you don't have much to say, that's okay. I just think Loki is a complicated guy and the generic hero theme fans are putting him in doesn't actually fit who he is.
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If Loki truly respected his father’s dream of a peaceful, prosperous Elbaf, he would be doing everything in his power to protect that fragile peace. Instead, he was chained up in the Underworld actively plotting to
unleash an apocalypse.
Normally, you would think when a son kills his own father and his father is saying "Remember, remember, my son! I did this for the peace of our people!" that the son would take a solemn vow to uphold peace in the nation from then on. That's not what happened, though.
Instead, I consider the cynical path. Loki considers Harald a weak king who almost lead to the enslavement of Elbaf. As the embodiment of the War God, seeing his own father, the king, beg for his life, was the last straw. He wants war.
Hell, he's fighting the very man who made Harald enter a contract based on this "peace." Imu and the people who should have been there to help him the whole time, his own people, the giants, condemned him the entire time.
All of that aside, if Loki became King of Elbaf, or even just a protector of it, he would have to eventually acknowledge Shanks' influence and make peace with him.
That will not happen.