There is a lot to be unpacked here. Let's get to the end. Loki and Sylvie, which were taken prisoner by the TVA's Ravonna (Tom Hiddleston) and Sophia Di Martino, wound up in front of the lizard Timekeepers, who are the puppetmasters of this entire timeline and the policemen for those who stray from it. Loki and Sylvie engage in a fight between Ravonna's troops and Sylvie. Sylvie manages to throw a sword at one Timekeeper and cut its head off. She rolls it over and discovers that it's a Wizard of Oz scenario. It's actually worse than that: the Timekeepers themselves are androids. What is the matter? Ravonna "prunes" Loki using the cattle-prod weapon that her TVA troops have on them. He vanishes. Sylvie wins the episode and leaves Ravonna. Episode 5 will show us what Ravonna has to say about the evils of the universe.
What now? What happens if you are "pruned?" Are you going to die? We can see the light at the end. Thank God for the epilogue. Loki wakes up and asks, "Is that Hel?" Loki awakens and asks, "Is this Hel?" He then looks up to see three lokis. Classic Loki (Richard E. Grant), Kid Loki(Jack Veal), which holds a Komodo Dragon; and Boastful Loki [DeObia Oparei]. Classic Loki replies, "Not yet." "But you will be, if you don’t come with us."