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Power is an easy thing to crave when you don’t actually know what you want. Loki realizes this at some point between becoming king of Asgard and washing up on a miserable trash planet. It’s simple to look at the nebulous but powerful yearning within your soul and conclude that power, authority, could fix you. It’s only when that power is in you that you realize that power is useless so long as you have no notion of what to do with it. The yearning is still there, the emptiness at the pit of him. And he doesn't know what will fill it, but it’s the same craving whether he is play acting the Allfather or groveling at the Grandmaster’s feet.