A little late to the party on your analysis if you knew anything at all about his life, he would say.If it befit him, he would rule. His desire to rule, and honestly rule, and be an honest King, disappeared when the ever dutiful Lady Sif took her warriors to Heimdell and off they went to Midgard. He could have taken care of it. He could have solved everything. He believed this, he did, he did.. He really did. Didn't he?

"What do you believe in?" Your sympathy, your pity, your everything and anything you could give to him, Mortal, is not needed nor cared for. Even if you were to drop to your knees, what worth had you? One more sack of flesh. On such a vessel, such a small size? Depressing, if one thought on it too long. The times where true worshipers roamed was over. Fear only held so much persuasion. It was useful for a time. Little value.

He wanted undying loyalty.

Loki simply tips his head to one side, watching.