Warning: SPOILERS for Loki episode 2.
The second episode of Loki features a Renaissance fair and it could hint at the real state of the TVA. Marvel Studios continues Phase 4 with its third Disney+ series following WandaVision and The Falcon and the Winter Soldier and, this time, it's the God of Mischief at the forefront of its storytelling. In the show, Loki's path officially diverges from Thor as he finds himself working, albeit begrudgingly, work with the TVA.
After the premiere established the Loki show's premise and laid the foundation for its overall run, episode 2 titled "The Variant" officially debuted the trickster's evil variant, presumably Lady Loki. But before the climactic reveal, she once again caused an incident that left dead Minutemen and Hunter C-20 kidnapped, sending Loki on his fieldwork excursion. The crime took place at a Renaissance fair in Oshkosh, Wisconsin in the year 1985. The TVA doesn't spend much time at this point in history; after Agent Mobius M. Mobius caught Loki trying to con them, they simply reset the timeline and moved on. However, this particular setting might be hinting at a larger reveal later on in the series.
Looking back at the marketing for Loki, the Renaissance fair was featured in several trailers and since the show has been confirmed to travel through time, that period was presumed to be one of the backdrops of an episode. But, as it turned out, it's staged in 1985 instead. There's something odd about seeing all the people involved dressed in the 14th- to 17th-century costumes but holding red cups for their beers, not to mention the contemporary song "I Need A Hero" playing in one of their tents. This could be foreshadowing the eventual plot twist with regard to the TVA. Miss Minutes' welcoming video reveals its brief history, revealing that the Time-Keepers created the organization and it has been in existence for a long time, further lending credence to its authority. This checks out with its aesthetic and general vibe; it looks and feels old emphasized by their outdated-looking office and retro technology. However, like the Renaissance fair, it might just be all for show. Instead, the TVA may be something that's fairly new and is projecting its credibility in an effort to secretly amass power and influence.
While Loki has agreed to work with the TVA, primarily because he doesn't have any choice, the God of Mischief has remained dubious of the Time-Keepers. He consistently questioned Mobius in Loki episode 2 about the powers and even the existence of the "space lizards," and the agent couldn't really give a concrete answer. In fact, his separate conversation with Judge Ravonna reveals that he, too, doesn't really know a lot about the Time-Keepers. It doesn't help that not much else has been revealed about the supposed three powerful beings and everyone working in the TVA are just operating by faith that their work is for a bigger purpose. Given this, it's not outside the realm of possibility that towards the end of Loki, it will be revealed that the TVA is built on a lie. Making it look ancient helps with preserving its facade, but upon looking closer, smaller details don't add up. Just like how it was with the Reinassance fair.
With Loki out of the TVA's grasp after he followed Lady Loki through a time portal, the God of Mischief has a proper opportunity to learn about the Time-Keepers. Considering his variant's crusade against the organization, it's possible that she has an inkling of what's really happening in it, and it's far from what's revealed by Miss Minutes. Given that, it's not outside the realm of possibility that Loki eventually reveals that the TVA is not the force for good they claim to be.
Loki releases new episodes every Wednesday on Disney+.