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As the first film in Phase Five, the movie hopes to establish Jonathan Majors’ Kang as a Thanos-level threat who will pop up in future movies, including the next two movies.
Source: https://www.digitaltrends.com/movies/5-upcoming-comic-book-movies-in-2023/
However, the film's poor box office numbers suggest that fans were not too pleased with the start of Phase Five, nor the new Big Bad, Kang.
Source: https://www.cbr.com/how-loki-season-2-save-phase-5-mcu/
Marvel’s “Blade,” which will follow “Thunderbolts” in Phase Five, also recently delayed production as members of the Writers Guild of America strike after not reaching an agreement with the Alliance of Motion Picture and Television Producers.
Source: https://variety.com/2023/film/news/marvels-thunderbolts-production-pause-writers-strike-1235626024/
The MCU seems to be developing Phase Five to do what Phase Two did.