Yeah, the Skald was definitely Loki. Not only was he missing a tooth, he was missing a horn on his headdress. As I see it, Loki went back in time by 3,000 years to re-shape his story so he could be the 'god of stories' rather than the 'god of lies' he retconned his own past to escape the bad future, reshaped the stories told about him. So, basically what King Loki did, but with different intent. So I don't think the old him was so much erased as forgotten. Er, well, it may have been erased from other people's perspective, but not his own.
As for the whole 'he's not sexy' thing... I honestly think all the fanservicey stuff an how good looking he was was in itself actually a trick on the readers right from the beginning. Ewing and Garbett were trying to convince everyone it was one type of story, a fluffy fanservicey thing, when it was really something else. If all you were interested in was seeing Loki be a sexy woobie, you're gonna be disappointed, but pretty sure that was kinda the intent all along. There will be no more 'oh, poor baby' and cheeky little fanservice things. and he's definitely way more punk or metal now than tame pop.
ps. I told you all Thor had no phone.