As someone who was literally set up to fail at every turn, Loki can understand that feeling and attest to the fact that it’s not true. If it can change for him, it certainly must be okay for someone like Peter as well.

“Oh? Do I now? Is this Tony brilliant and handsome then?” Loki is aware that Peter comes from his world, but he’s not assuming that his Tony is Stark. It’s a pretty common name on Midgard and he doesn’t want to assume.

He also can’t imagine a world where anyone would think he and Stark had anything in common.