While the PS5 has kept its cards close to its chest, there's little doubt that many are looking forward to current-gen IP to make the leap to next-gen. It's for this very reason that many PS5 rumors make some mention of God of War, Spider-Man, or Horizon Zero Dawn, as those properties alone could sell the PS5 to so many. And, as such, it's clear that God of War on the PS5 is a matter of when, not if.
Beyond next-gen capabilities, though, the story of God of War is as interesting to many. The game ends with a teaser that Fimbulwinter has arrived, showing Thor seemingly approaching Kratos' house. Still, there's plenty of directions the story could go in, but perhaps the most interesting is that Thor himself could be a symbol of Kratos' past. With Loki/Atreus being forced to face his own godhood, how Thor and perhaps the Norse God of War Tyr interact with the two may cast a long shadow.
The Gods of War, Kratos and Tyr, and The Future
Kratos' background is shrouded in tragedy, as first Athena and Ares believed Deimos, Kratos' younger brother, to be responsible for the downfall of Olympus. Kratos believes his brother was dead, marking himself with the red tattoo identical to that of his brother's birthmark. Kratos would go on to get married and have a daughter, and became the youngest captain of Sparta's army. His bloodlust was noted by Ares, granting him the Blades of Chaos and leading Kratos in his slaughter of hundreds. Eventually, however, Ares tricked Kratos into murdering his wife and daughter, being cursed to bear the mark of his terrible deed and becoming the Ghost of Sparta.
His journey from thereon was one of rage and anger. He eventually took on the biggest Gods of Greece, eventually finding his own redemption at the end of God of War 3 and spreading hope to the people of the world. It's clear by God of War on PS4 that Kratos is no longer this person, and perhaps will find his future as God of War in Tyr. The latter is teased throughout the PS4 game, and it's clear he is a beloved God of War. He values Truth and Justice as equal counterparts to War, and with Kratos' transformation, it's clear that Kratos takes his Godhood seriously, attempting to bestow these principles onto Atreus.
Tyr's role in God of War 2, if he does exist in future games, seems to be that of what Kratos has tried to obtain and the path that he wants Atreus to walk. Tyr is a symbol of goodness and the future for Kratos, but Thor on the other hand doesn't seem like a potential Ally. While Kratos' conflict with Thor and Odin, supposedly, remains to be seen, it's clear that Thor will echo the Kratos of the past.
Kratos and Thor - The Past and Revenge
Kratos' background that of Thor's now are not that different. Using the power of Ares, Kratos slaughtered hundreds of men. At the order of Odin, Thor joyfully and willingly slaughters the giants of the realms, becoming a feared and powerful god. Like Kratos was driven by hatred, it's clear that Thor bears a hatred for many, including the World Serpent. Kratos' quest of vengeance against the Gods of Greece was fueled by the loss of his brother, his wife, and his sister; Thor could easily be seeking vengeance after Kratos killed his favorite son Magni and his half-brother, Baldur.
In short, Thor could be consumed by vengeance like Kratos and operate as a primary antagonist in the upcoming game. There's been a lot of foreshadowing of Kratos' death as well as Atreus falling to his own chaotic nature as Loki, and it would make sense that Kratos tries to prevent this through Tyr and Thor. Tyr, as a symbol of what gods like he and Atreus should be, and Thor, as a symbol of the worst, the past, and the effects of anger on a person.
Ultimately, it remains to be seen, but when Kratos faces Thor, it's clear he may be facing himself, his past, and what it means to be a God of War. For Atreus, it likely means facing himself and what it means to be a God, a symbolic journey bringing in multiple story threads.
God of War 2 is rumored to be in development.