Homelander is a really big disappointment, unfortunately.
Somewhere down the line, I think the team just leaned a little too into him being the Trump symbol guy.
He regressed in intelligence, regressed in aura, and just overall hasn't had the same weight he had back in Seasons 1-3 (also that one episode where he killed the scientists who made him was actually pretty good). Even though the acting remained impeccable, it got a little too comical for me, personally.
Especially in Season 4-5, it was just so, so, so over the top. Kinda funny how much he did align with Trump, but him being Trump was never really a highlight of the character for me---not at all. Its always been about the parts of Homelander that are unique. How he was tortured as a kid and psychologically manipulated into being how he is. Why he for some reason has an obsession with milk. And the journey he had from season 1, progressively going more insane as characters died, his son came, betrayed him, then supported him, then betrayed him again, ETC. I feel like at a point, they sort of forgot that Homelander was supposed to be the main antagonist of the Boys, the fictional series, and not a stand-in for a real-life personality. Yes, the show is a political satire. But it gets to a point where its so comical that you can't really take it seriously. IMO.
I think something that sort of highlights how I feel, is the fact that they removed one of the scenes that further explained Homelander's backstory back in Season 4 I believe? One where he is hugged by a fake mother (one of many) who teaches him elementary things about the world. It is a really good scene, that for some reason got cut. It feels like the show writers didn't treat him like a character in the story the way I would've expected...
Also, to top it all off, he never does anything that justifies why he is such a big threat. He's basically just repeatedly said to be the strongest. The peak of supes. But everything he does is so small. He just never got the chance to shine as much as I wished he would've. Idk if that was on purpose or what, but especially in these later seasons, they really made him feel WEAK. And that isn't really a good thing IMO.
Even in this ending, they basically just nerfed him into the ground after he got the 10x stronger version of V? Seriously man? Also, he's just randomly weak to Uranium...? Something that is not even relevant after Soldier Boy.
BTW, Soldier Boy, the guy who took half the season and then dipped without even showing up for the finale. CRIMINAL.