I thought it was abundantly clear that Loki allowed himself to be banished because it would allow him to grow as a person.
Him banishing Loki would later allow Lady Sif to reprimand him I telling him as King of Asgard all asgardians are entitled to live in Asgard, she would then tell him that he was merely avoiding his duties, in casting our Loki as opposed to Odin who would never banish Loki but reprimand him upon his return to Asgard.
This was also explained in his talk with Amora.
Thor isn't immune to anything from Loki, in fact Loki has been weaving the narrative thus far.
The idea the power of Zeus which has always been comparable to Zeus would suddenly resist a version of Loki that is a combination of Ikol Loki and OG God of Stories Loki who was out helping the defenders against conceptual beings is ridiculous.
Even if Thor manages to beat Utgard Thor in the future the victory would ultimately be due to Loki's ability to manipulate the plot otherwise Thor would've died long ago before Loki placed him a realm to heal using the Odinsleep.
Like are we going to forget Loki rebuilt the Rainbow Bridge were Thor was powerless to do anything to resolve that matter?
It doesn't help Ikol Loki is worthy and by extension Teller of Tales was as seen when he helped fight Utgard Thor turning into the appearance of Ikol Loki when he wielded Mjolnir in the axis event to beat up Thor (I am actually a Loki fan and I read all his runs).
If they were to fight for real Loki would beat his ass onesidedly.
Let's stop the Thor wank smh, one half of teller of tales was already out here going toe to toe with Beyonder, scaring Those who sit above in Shadow, manipulating the highest realms of reality while Thor got beaten onesidedly by Thanos not even using the stones (and before y'all come up here trying to convince me different that thanks was even if he was it would only be the power stone at best since no other stone was used, no space manip, no reality warping, mind control etc bro just beat Thor up, and even then power stone ain't shit on Beyonder)
The idea a Loki that is half Teller of Tales Loki, could manipulate the Land of Never be should but can't get into Asgard, should make you second guess yourself and if you just have unconscious bias.