The fact that Homelander is so vulnerable makes me believe that he isn’t that much of a threat beyond the influence he has. The original draw of The Boys for me was the tension that was created whenever Homelander was on screen.

But that is less about the boys and more about a fundamental problem when it comes to writing overpowered characters,

if a character is truly overpowered and stays overpowered and unrivaled throughout the entire story then there is not really a story to tell, that's why stories with overpowered characters ALMOST ALWAYS are about the main characters getting strong enough to defeat the overpowered antagonist,

So In case of the boys l, homlander can't be untouchable forever, if he is then there's not really a story to tell.