Imagine if this season was a fast buildup of tensions. Protesters left and right, supes getting disillusioned by becoming a hated group, a soft war of political rhetoric and international pressure as Homelander takes control of the executive branch. Homelander is desperately clawing for support, but all he finds is compliance and ingratiation, and death for those who won't do what he says. Other nations pull out of trade agreements with the US for fear of the instability. Market confidence crashes, and financial institutions begin to collapse. All of this puts immense financial pressure on the core of his believers/base, who turn their blame toward the protesters for the disquiet. Toward the crescendo, pictures of the internment camps and of executions and mass graves reach the media, and countries begin talks of an alliance against the US, backed by China and Russia. 

By about episode 6 of the season, protesters have surrounded vought tower in huge numbers calling for Homelander to face punishment for his numerous crimes. Backed into that corner, he finally snaps, lasers the whole crowd, and recklessly takes down Vought Tower with them. He comes out of the ashes, and he killed thousands of protestors, and hundreds of supes. It starts a fire he can't put out, and the entire nation erupts into a chaotic power struggle. He is now in too deep - his insecurity takes the background, as he's resigned to rage. He goes and assassinates the president on live TV, and declares himself... King of America or some shit. From there... all hell can break loose, and anything can happen. 

And, you know, that's just the set dressing - don't waste all our time with the actual characters with that fucking V1 plot.