Baphomet is a tulpa, and probably a sentient being by now. Meaning, it may have been created during the Middle Ages and given an image by Eliphas Levi, but it has become an independent consciousness of its own by this point.
I found this article, in which a Freemason describes Baphomet’s name as meaning Baphe Metis , a baptism of wisdom aka being plunged into the cunning wisdom mindset of Zeus’ concubine.
This type of cunning combines intellectual brilliance, guile, and versatility (resilience), which were qualities highly esteemed among the Greek population and aristocracy. Metis was the female embodiment of this mindset. The male embodiment of it was Odysseus.
I also found this and this, both of which explain the goat imagery in Baphomet as being linked to Amalthea, the goatherd nymph who tended to baby Zeus. Amalthea was represented in ancient astronomy as the star Capella, which was part of the former constellations she-goat Capra and the kids Haedi (Haedus I and Haedus II). Capella and the former constellation stars are now part of the constellation Auriga.
If these authors are to be believed, Baphomet would then bookmark Zeus’ life and serve as female cornerstones to his power: as Amalthea, giving him strength when young, and as Metis, drawing strength from him through cunning in his prime. Baphomet in different forms would then be Zeus’ guardian of sorts.
The interesting thing about the second and third articles is that they assume a connection between the Knights Templar’s veneration of Baphomet, and the Levant cult of Asmodeus. The author there suggests that the two spirits are identical.
I don’t buy that assertion. Being as Baphomet was a prosperity and fertility spirit, it would most likely be linked to Amaymon (aka Abu nuh Maymun or Mammon) rather than Asmodeus.
But hey, everyone has an opinion. Conjure for yourself and ask questions. You’ll find out who’s who and what’s what when you go direct.