How many times can they do that again? They should have ended the series after this season, it felt completed.
I could see up to two more seasons, with Kreese’s redemption being the final hurdle. Season 6 would focus on the international tournament, with Miyagi-Fang finishing ahead of Cobra Kai, if not winning the whole thing. Master Kim would then give up on Cobra Kai (perhaps after Julie Pierce kicks her ass).
That would leave an opening for Kreese to reclaim Cobra Kai in Season 7. At the very least, Tory could return to a Kreese-led Cobra Kai. Others would likely follow her. However, Kreese’s ultimate goal is to run the dojo with Johnny, and that’s how I think this series ends.
They’ve spent too much time on Kreese’s background to not give him an eventual face turn. And the series is about Johnny, first and foremost. Yes, it became more Daniel-centric the last couple of seasons, because he had the more direct connection to Terry Silver. With Silver out of the way (at least for now), the story can shift back to Johnny.
I could even see Daniel retiring from karate, leaving all the remaining students to find a home with Kreese and Johnny at Cobra Kai.
(This could also be done in one - albeit rushed - season.)