Thor 4 being bad was the moment everyone realized the MCU didn't matter anymore. Ragnarok was such a fun and energetic turnaround for the character, and he was an absolute highlight of an already star-studded Infinity War. It's one thing if Black Widow, Hawkeye, Bucky, or Doctor Strange have middling films or shows, but everyone was looking to Thor, and Taika fumbled.
This is the Thor portrayal that I've been hoping for. I still hope and expect him to be a little goofy a la his Ragnarok / IW portrayal, but Hemsworth is a terrific actor who shows a lot of genuine pathos through this hunk god. Thor has been through so much loss and grief, nearing upon a decade since he lost everyone in his life nearly at once. I'm really excited to see where they take him here.
It really seems like this story will be about parenthood, and I'm certain to some extent, passing the torch to younger generations. That should've been a cleaner throughline of the last few phases, but better late than never I suppose.