Theory time

It is interesting to suggest that Walpurgisnacht is and has been Homura all this time. It’s almost as if the only way for Madoka and Homura to be intertwined for eternity is if there exists an eternal conflict that is unsurpassable. That being said, this would have to imply that there existed an underlying conflict that predated Walpurgsinacht…or basically, the real reason why Homura decided to become a witch in the first place. This could either imply she was never destined to “be” with Madoka, so she became a magical girl and then witch to be with Madoka for eternity; or Madoka was destined to die somewhere deep into the past, and Homura’s wish was to “save” Madoka, and becoming a witch that is stuck in an endless cycle was the result of it. The bottom line is despite these theories, there still exists the existential conflict between Madoka’s Will and Homura’s Desire.

@thunderkitten13 My theory is that if Homura is Walpurgis, then it's still related to Homura's desire. There seems to be multiple Homuras, so if it's indeed only Homura as Walpurgis, then maybe they fused somehow into the witch, maybe all despairing over Madoka but in different ways. Selfish love vs selfless love. I might retract the theory I made in the thread though because I've been skimming threads and found other theories that made more sense. I'll talk about them below if you're interested.

@AnimePedestrian Since Walpurgis is passed down from generation to generation, I think it implies that this witch can potentially travel back in time. I'm pretty sure witches generally can't do this, but the wording here somewhat implies this for Walpurgis.

The other theories I've looked into:
1. Both Homura and Madoka are Walpurgis. In the trailer we see a seemingly unknown girl with Homura's black bow (which she got from Kamidoka after splitting her). She doesn't look exactly like Madoka, nor Homura; but she has black bows, ash blond colored hair, and a grey outfit. It looks like it could potentially be a fusion between Homura and Madoka, before becoming Walpurgisnacht.

2A. Walpurgisnacht formed from Homura's tampering. In the beginning of the trailer, we see Akuma Homura using a telephone to contact someone (some have speculated she's communicating with herself, which could partially tie back into the thread's initial theory). It sounds like she's giving contracts to other girls, fulfilling Kyuubey's incubator role and creating her own flock of magical girls. So, the cycle of suffering seems to continue in Homura's universe, and she's the one purposely continuing it. Maybe the girl with ash blond hair is one of the girls who became part of Walpurgis, and is one of the magical girls Homura gave a contract to. Any of the main cast could also potentially be part of Walpurgis with this theory, just their non-god counterparts.

2B. A sub-theory related to this is that the magical girls who were not saved by Kamidoka are now aware of Homura's tampering, and are angry at her for them being the only magical girls left out and not spared by their horrible fates. So, Walpurgis is formed, and with all its rage and despair in its heart, it's targeting Homura (?).

3. Walpurgis is the Law of Cycles taking the form of the ash blond haired girl in the trailer, and is angry at Homura for creating an imbalance. So, it sends Walpurgisnacht (or is Walpurgis) after Homura to end her reign.