Thor's sudden hard on for Loki feels forced. I'm hoping Loki is manipulating his mind from beyond the grave to some extent.
The big red guy seems to be pretty uber. Matt Fraction did say that the villains in this story were so powerful, they were capable of staving the Entropy of a Universe etc.
The dude seems like a Universal power.
I'm guessing Odin and most likely Surtur are going to be resurrected by his hand. Here's hoping Odin beats the shit out of him down the line.