i hope not, but its a good theory you outlined as a ep7 spoiler.I will say I had one concern with the latest episode and its implications although it can be retconned.
Soldier Boy being Homelander's dad seemed a little off for me. It was established in earlier seasons that Supes were celebate, hence why Ryan's creation and birth was miraculous and why Ryan is a key person of interest to Vought as the first natural Supe. Although Homelander was probably a test tube baby with SB batter, he might be a more natural supe.
This could be retconned with the fact that SB used an earlier prototype of V to get his powers, retaining his ability to reproduce (kind of like the Captain America super serum being the best and not being able to be recreated). Although V-compound individuals lose their ability to reproduce, Homelander as a "natural supe" therefore retains his ability as does Ryan. Could also mean that Homelander being hit with SB's radiation blast might not remove his powers as they are innate to him vs the others powered by compound V which the radiation "burns out" to remove their powers.
Also surprised that Black Noir was so weak, or more that Solider Boy was so strong. Soldier Boy is weaker than Homelander based on episode 6 (and if the above theory is true, his radiation powers wont change that) but pre-buffed Soldier Boy was still able to solo his team, them basically requiring prep and a surprise attack to subdue him. Kind of shows how strong Homelander is in context