Kreese would obviously come back once more. But I am curious where they go next season, since Cobra Kai seems utterly finished.
Every single member abandoned the dojo now.
Unless Johnny decides to take it over . But at this point the name seems utterly poisoned.
Maybe the International tournament organizers would make it a condition for Miyago Do to be admitted that Cobra Kai joins, too? Then Johnny would have to…
There still seems to be the open "issue" what to name a Dojo that combines both Cobrai Kai and Miyagi-Do Karate philosophies, they didn't solve it this season.

Personally i'm also wondering for 6th season, they have hopefully a good and believable idea ( even for a show that is intentionally corny) to create drama.
Now that Silver has been exposed and Cobrai Kai students abandonend him it is questionable what Kreese can do on his own, since basically every "bad" guy either joined the good guys such as Tory perhaps or has quit completely, so the formula for two competing Dojos won't work.