There has been a lot of discussion on kratos' power in the newest installment. This is my full on take on his power throughout every game.
GOW1: Kratos is a demigod, yet he doesn't know it yet. Sold his soul to ares and brandished the very powerful blades of chaos. Spent 10 years serving the gods, and was infamous in his ability to combat mythical creatures and soldiers alike. He has superhuman levels of strength, endurance, and speed. During the entire game is would say kratos could take on a certain few minor gods at best, still believing he is mortal and only being a demigod still. At the end of the game however, when he acquires the power of hope, he grows to a mountainous size and has god limitless power. Examples being the ability to disable a gods ability to heal themselves, any weapon he brandishes is infused with the power of hope, ect. This allows him to overcome ares' temporal realm to where he traps kratos inside of his own mind as well. He becomes the full fledged God of war at the end, given the full powers of an olympian and of a God of war.
GOW 2: At the beginning of the game, i would say this is where kratos is at his most powerful throughout the entire franchise, the only exception being at the end of GOW 3 when he uses the full power of Hope. He has the ability to summon any weapon, create pocket dimensions, grow to a mountainous size with next to no decrease in speed, influence any soldier in combat, make any man go mad with rage, can't be harmed by any man made creation to our knowledge. There any many more powers he would have, but the game doesn't dwell into them, just know that Zeus would not combat kratos in a 1v1 battle and was actually afraid of him. Kratos loses his OLYMPIAN powers when he puts them into the sword of olympus, but does not lose the power of hope, it just stays dormant behind his guilt and rage. It does however, give him many passive abilities which allow him to be much more powerful than he was in GOW 1, even without his godhood powers. He regains his Olympian powers at the end of GOW 2 when he gets the blade back, but is not able to harness his full power due to the fact that olympus is in turmoil, and the source of his power (flame of olympus) is restricting all of the gods full potentials due to this. (Thats why people always say GOW gods are weak, none of them, including kratos were not at their peaks due to this.)
GOW 3: This is where things get tricky, because some things are still not fully explained to us. To keep it simple, kratos absorbs Hades' soul, which gives him the power of souls in the underworld, especially combined with the claws. He is able to kill all the gods he does, because of the interference with the flame of olympus, and the fact that the power of hope gave him all these passives of even more strength, speed, ect. on top of the olympian powers he re-possessed. At the end of GOW 3, when Zeus enters his astral form, he becomes a cosmic entity, and kratos has no chance in defeating him until he unlocks the full power of hope. When kratos unlocks the full power of hope, his power is limitless indefinitely. You can put anyone in front of him, anything, and he will come out victorious. The power of hope is a cosmic entity that predates the primordials. It is basically the phoenix force, but hope influences everything. Jean Grey is considered one of the most powerful marvel characters with the phoenix force, and she is just fully mortal. Kratos is a full fledged God with the power of a cosmic entity. Zeus lost the minute kratos unlocked this power, kratos became so powerful, he simply looked at Zeus' astral form and casted it back into his physical body, and killed Zeus with his bare hands. Once kratos stabbed himself and released the power of hope, he still has is Olympian powers, but he became one with them when he unlocked the full power of hope and released the guilt he had inside of him.
GOW 4: Kratos' power is measured by how mad he gets. He is basically an immortal hulk. When he rage bursts, he harnesses His God of war powers and draws his power from every war and battle ever waged past and future. He harnesses it into one singular moment, making him an unstoppable being. His momentum can not be stopped, and he only gets stronger the angrier he gets. While he roamed the earth for an estimated 200 years, he fully embraced these powers, and practiced them until the point to where he doesn't fully lose control when he rage bursts. Basically hulk with the experience of hundreds of years of battle, and he doesn't lose his mind when he gets angry. He does not however have the ability to grow to a mountainous size, or summon weapons on command. He lost those when he destroyed the flame of olympus.
All of that said, i think kratos loses to Thor is GOW 5/2. While he is a god with an extreme amount of power, and has the ability to get stronger the angrier he gets, he is a god from another region. His influence on this region is limited, however he does have more power than he should considering the norse God of war Tyr is dead, so his influence is more branched out because he isn't mentally battling another god of war for control.
PS. My personal opinion, feel free to correct me.
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