He Who Remains is really a metaphor for Obama who filled the oppressive time government (the fantasy version of the TSA meets the DMV meets the FBI) with diversity hires, and lied to them about everything to expand his own power! He uses his oppressive time police to spy on and try to imprison Loki, who is actually Trump, a reckless narcissist with tyrannical tendencies who just happens to be right about a few things. In the end, despite trying to undermine him the whole way, Kang/Obama is prepared to just hand the whole thing over to Loki/Trump without a fight, while Sylvie, who represents HILLARY CLINTON obviously, keeps trying to murder both of them, which was really her plan all along. In the end, Sylvary Clinton wins and all of Loki/Trump's allies pretend they don't even know the guy.
It's ackchyually quite based when you think about it.