Using the knowledge I have collected on the subject, I will attempt to lay out the theory of monarchy in the context of Indo-European religion. This is not an attempt to discuss the merits or demerits of such a political and religious system in contrast to, for instance, integral Catholicism, or even to presuppose that it could retake the entire West, but more intended as expository writing, should such information be useful in the future.
The ethnocentric portion of the neoreaction seems to have taken two different strategies comparable to the means of warfare represented by the two Indo-European sovereignty deities, known from the Vedas as Mitra and Varuna, Germanic myth as Tiwaz and Wodanaz, and Roman religion as Dius Fidius and Iuppiter (Jupiter). Whereas Mitra represents the priest, jurist, and lawyer, Varuna represents a vengeful magician king, as do his counterparts Woden, and Jupiter. This distinction is explained fully in Georges Dumezil’s work Mitra-Varuna, but it can also be observed by the casual scholar of the Indic Vedas, Norse Eddas, and the ancient Roman religion. If you are unfamiliar with this theory, you can view Dumezil’s book here.
The nature of the Alt-Right is, and has been, a fundamentally Wodenic, or Varunian one. It is often focused on a sort of racial mysticism, combined often with an independent, Nietzschean type of irreligion and an ecstatic frenzy for warfare. It has also attracted outcasts from every corner of society under the hegemony of political correctness, which reminds one of Odin’s role as a patron of outcasts (you can read about his various attributes here). On the other hand, Propertarians represent a type of neoreaction more akin to the characters of Mitra, Dius Fidius or Tiwaz. Unlike the Varunian Alt-Right, Propertarians seek to take advantage of the concept of justice, contracts, courts, and the law to get their way, only using violence when these methods fail to produce desired outcomes. Ultimately, each approach applies itself to different circumstances, and both will likely be necessary for the neoreaction to have its intended effects.
The following videos highlight some quotes of Nietzsche and Schopenhauer. I think there is a fundamentally Wodenic, or Varunian spirit in both of their philosophies, but particularly in the highly individualistic viewpoint Nietzsche.
The Mitra-Varuna dichotomy I describe above seems to mesh fairly well with the Nietzschean concepts of the Apollonian (corresponding to Mitra) and the Dionysian (corresponding to Varuna). Nietzsche, of course is very Dionysian; he is a reaction against the excessive Apollonianism which began with the Protestant Reformation and continued with Whig politics, and the Enlightenment values which still pervade to this day.