Thanks! I keep toying with the idea of a Game of Thrones/ASOIAF AU where Loki is effectively in Theon’s position – a hostage for his father’s good behavior – and then finds himself in the impossible situation Theon did in season/book 2: Thor (Robb in this scenario) is waging war and sends Loki to ask for Laufey’s assistance, and Laufey demands that Loki support him in revolt against Asgard. Most people hate Theon for “betraying” Robb, and he definitely didn’t handle the situation well – plus he was characterized as a jerk in ways that can’t be chalked up to his challenging social position – but I’ve always maintained that he had no good options once his father announced he was renewing his rebellion. I think if I put a more sympathetic character like Loki (though he is also kind of a jerk, in different ways) in the same situation, people might get why I didn’t hate Theon, even before he became too pathetic to hate.
Of course the whole thing would be complicated by the fact that Odin never let Loki forget his subordinate and precarious position, while Frigga treated him as another son and he and Thor are like not-entirely-equal brothers who become not-entirely-equal lovers. (Do I ship Robb/Theon? Maybe…)