Theory: Ultimate Kang is NOT Tony

Ultimate Invasion introduced us to a new version of Kang, wearing an Iron Man armor. Tony later dons a near exact copy of that same armor in red and silver and goes by the name "Iron Lad". We're definitely meant to think Tony is going to be the one to become Kang, but conspicuously we are never ACTUALLY shown or told who Kang is. We never see his face. Tony is a red herring.

So who is he if not Tony? He tells The Maker "you are my maker" when asked, and Maker says he knows who he is before Howard interrupts the two.

He's Doom. Specifically, the Reed-Doom from this new universe. The most recent issue shows us that Doom is trying to go backwards in time, and that Maker turned him into what he is now. And Kang speaks in a much more grandiose fashion, unlike Tony but not dissimilar to Doom.

Thoughts?