If Loki can go back in time and fix things, his character might develop a sense of redemption. He could start to see himself as a hero rather than a villain. Instead of being full of self - loathing and envy, he would have a new purpose.
One popular plot twist could be Loki going back in time and preventing his own fall from grace in Asgard. This would completely change the course of his story and his relationship with Thor and Odin. Another might be Loki using time travel to stop the events that led to Ragnarok, saving Asgard in a different way than was originally shown.
One way to 'fix' the situation in a fanfiction could be to have Loki's faked death in Thor: The Dark World be more thoroughly investigated by Thor. If Thor had been more suspicious and dug deeper, he might have uncovered Loki's real plan earlier. This could have led to them working together more effectively against Thanos in Infinity War, preventing some of the tragedies that occurred.
A major theme is the power of knowledge. Since the time traveler has knowledge of future events, they use it to their advantage to fix things. Also, the theme of fate versus free will is often explored. Some stories show that despite the time traveler's efforts to change things, fate still has a way of working things out in a similar way, while others show that free will can completely rewrite the future. In addition, the idea of self - discovery is common as characters often learn more about themselves when they go back and face their past.
One great 'Harry Potter Time Travel Fix It' fanfiction is 'A Time to Change' where Harry goes back and changes key events. It has a really interesting take on how his knowledge of the future can be used to prevent tragedies.
The idea of time travel as a form of spiritual journey could be explored. In the Hobbit universe, time travel might not just be about physically moving through time but also about the hobbits connecting with their ancestors on a deeper, spiritual level. For example, a hobbit could travel back in time and meet an ancient hobbit sage who imparts wisdom that is crucial for the future of the Shire. This would blend the fantastical element of time travel with the rich cultural and spiritual aspects of the hobbits' world.
There's also 'Time - Bound Loki'. This one delves deep into Loki's psyche as he time travels. He encounters different versions of himself from various points in time, which makes for a very introspective and character - driven story. The descriptions of the different time periods are really vivid and add to the overall atmosphere of the fic.
Perhaps they could have used time travel to team up with alternate versions of themselves. So, the Avengers from different timelines could combine their powers and knowledge to come up with a better plan to stop Thanos. This would involve not just fighting him physically but also outsmarting him in terms of his knowledge of the Infinity Stones.
One way to improve the plot could be by making the time travel rules more consistent. For example, if the hobbits can travel back in time, clearly define the limitations and consequences of such travel. This would add depth to the story and prevent plot holes.
In Marvel Universe fix - it fanfiction, time travel often involves using devices like the Time Stone or advanced technology. For example, characters might use the Time Stone to reverse specific events that led to a tragic outcome. They can create alternate timelines where they fix mistakes. It's a way to rewrite the narrative and give beloved characters a better fate.