Imagine Homelander loses powers and we get sequel of him as average human trying to survive and regain powers
Imagine no one knows he survived and Homelander with his god complex ironically ends up as an average human being and gets the taste of mortality. Basically him trying to survive as normal human with 0 experience of real life and he faces completely new kind of hardships as normal mortal, and painfully fails in comedic way. He's plans to get his powers back in disguise but he barely functions as normal dude
The very first scene could be him attempting Suicide due to his ego unable to take all of this and failing in a funny and pathetic way lol
There could be low-tier unknown superpowered group of Homelander worshippers who recognized him and help him and he's doing his best to manipulate em for his needs, but due to his current condition he's forced to rely on them and slowly connects with them. Maybe he'll feel genuine warmth for the first time and ends up having actual friends, but does NOT become a good person, just experiences something new.