Having re-watched Guardians of the Galaxy vol 1. today, and happened to see the new Thor: Ragnarok trailer…
I am reminded of how much I wished for AUs where after Thor 1/ Avengers 1 Loki escapes, leaves Earth and ends up in the Marvel Cosmic setting and becomes a member of the Guardians.
I feel that would just be a much better fit for him than fics that try to shoehorn him into the Avengers. The Guardians are much more a set of misfits and outcasts rather than the Most Best Elite Of Two Planets that the Avengers can be, and a lot of them come from very shady backgrounds to start with.
Also, trying to make him a hero on Earth is just not fair to Earth.