Is he a figment/archetype of the imagination? Is he an Agent of Saturn? Is he a Dream Spy of Sorts? Should he be feared or sought out?

He seems connected to Saturn due to his attire and Hat, he is also present in many pices of media as many characters such as the Hat Joker from Batman 1989; V from V for Vendetta; The Strange Man from Red Dead Redemption; Nick Carraway from the Great Gatsby Movie; Rorschach from The Watchmen; Willy Wonka and the list goes on...

He also appears in music videos like this one:
https://www.youtube.com/watch?v=RP0_8J7uxhs

Master Masons also wear a Black Top Hat like him and Catholics have the Black Capello Romano which is also literally called the Saturno Hat...