Warning: contains spoilers for Heroes Reborn #7!
The evil President Phil Coulson may be responsible for the horrifying Heroes Reborn universe, but there's still good inside him - and his love for Captain America proves it. Now the Leader of the Free (or so it appears to be) World, Coulson has struck a deal with the Devil himself to reshape the Marvel Universe as he sees fit. But in the backstory of Heroes Reborn #7, written by Jason Aaron and Ed McGinness with art by Mark Morales and colors by Matthew Wilson, a small but notable hint proves that Coulson isn't as unforgivingly evil as his satanic benefactor, Mephisto.
The twisted world of Heroes Reborn stems from a single point of divergence: what if the Avengers never assembled? Thus, the Squadron Supreme (Marvel's pastiche of DC's Justice League) are now Earth's mightiest heroes - and controlled by Coulson, who in this reality is the President of the United States. It's all thanks to the Machiavellian machinations of Mephisto, who is worshipped as a God (even "In Mephisto We Trust" is printed on American currency), and is working with Coulson to create the new reality. But it's the way that Coulson handles the disappeared Captain America that leads one to consider there might still be good buried deep within.
Now that the Avengers - or at least the term - are public knowledge, Vice President Thunderbolt Ross and J. Jonah Jameson wish to go public with a press release concerning the new team. President Coulson disagrees; he shoots them both in cold blood, and prepares to blame their deaths on Wakandan assassins. Mephisto, in the guise of a hellish hound, consoles Coulson. "You did the right thing. The more people say the A-word, the more cracks begin showing in this precious little world of ours." Mephisto outlines what Coulson must do: kill the Avengers - including Captain America. Coulson muses "...I never should have left him in the ice. I must be getting sentimental." Coulson is right; despite controlling the country and by extension the world, he still has enough of the old Coulson inside him to let Captain America live.
Phil Coulson first rose to popularity within the Marvel Cinematic Universe as a die-hard Captain America fan, who helped design Steve Rogers' 2012 uniform in The Avengers and even owned a few vintage Captain America trading cards. Upon appearing in Marvel comics, that characteristic transferred with him; Coulson was a huge fan of superheroes and especially Captain America. Coulson's death and resurrection after the Secret Empire arc left him disillusioned and bitter when it came to superheroes. It appears, however, that even the influence of Mephisto can't rid Coulson of his love for Captain America. Otherwise, Coulson would've killed him while he was vulnerable in the ice long ago.
It remains to be seen if Phil Coulson will eventually turn against Mephisto during the finale of Heroes Reborn. Perhaps, even for someone who strikes a deal with the Devil, it's never too late to renounce one's demons and become a force for good again. Since Heroes Reborn appears to be teasing a clash between the Squadron Supreme and the re-assembled Avengers, only time will tell if President Phil Coulson will join his former heroes - including Captain America.