By the end of Season 2, however, Homelander had lost both Ryan (to the Boys and the CIA) and Stormfront, who was now a blubbering shadow of herself.
Headed into The Boys Season 3, Homelander may be more lost and angrier than ever and that could very well lead him to make rash decisions to reinstate his dominance.
The Boys Season 2 was, in part, about Homelander’s loss of power.
In Season 1, he had the country’s adoration, control over the Seven, and the fear of everyone around him.