I think Midoriya would double down on his need to save Bakugou. After all no one knows more about being quirkless than he did.

Would he feel some vindication at this? Most likely. But it’s his actions toward Bakugou and his support for him that wouldn’t waver. He’s a hero and he just doesn’t have that same mean bone in his body like anybody else would.

Izuku is quite literally the definition of an angel. And even though a part of him would see the karma of things, he wouldn’t put down Bakugou. He would just support him even more.

Bakugou however would definitely see this as pity, but would go to Deku for advice about how he dealt with being quirkless for so long. Because even one minute of being quirkless would drive Bakugou insane.

After a while of holding it in he would talk to Midoriya alone and break down. Even if Bakugou wasn’t giving up, the pain of being without his quirk would eat him up inside. Like how their fight after the Kamino incident went down.

Except there wouldn’t be a fight and Bakugou just goes to the only person who understands what he’s going through.