Brenner (Matthew Modine) states in the Stranger Things episode "Papa" that Vecna "consumes" everything about his victims, Vecna targets traumatized victims because it builds for him a well of sad and angry memories to draw from.
Vecna adopts psychological warfare to target his prey – which, you could argue, very much serves as an allegory for trauma, depression and mental illness, which is all too real.
Vecna As An Allegory For Mental Illness
In the earlier seasons, when Vecna was a human and went by the name “Henry Creel”, he is seen making his father hallucinate and driving him into paranoia.
Vecna's powers allow him to form psychic connections with people in reality, especially teenagers dealing with trauma and mental health issues. Vecna develops these connections with young and vulnerable teens so that he can get out of the Upside Down and gain access to the real world by opening four gates or portals.
What does Vecna want with El? In his twisted mind, Vecna believes that he his helping the world by wiping out humans, as a "predator, but for good." When Vecna asks for El to join him, it's because he also sees her as a predator, "better" than humans.
Essentially, Vecna hates humanity, and wants to take over their world. He had hoped that Eleven would help him achieve this goal. But when he realised she wouldn't, Vecna instead used her.
Once he takes control of the mind, he traumatizes them by showing the visions of their dark past. He takes them to unknown places and gives them a glimpse of himself. The pain of his victims doesn't end here. Every single one of his victims experiences nose bleeding and severe headaches as well.
Vecna feeds off his victims' trauma and haunts them with their own darkest thoughts.
Before coming to the Hawkins National Lab, Venca had a classic villain origin story — he became obsessed with black widows, tortured his family, and brutally killed his mother and sister pinning it on his father.
Using his supernatural psychokinetic abilities, Vecna can probe and influence the minds of others. Motivated by a cruel and misanthropic philosophy, Vecna targets particularly traumatized, mentally ill or insecure individuals.
What was Chrissy's Trauma? Chrissy's life appears to be free from flaws on the surface, but in reality, she is struggling terribly to conceal her depression and self-image stemming. She was struggling with these issues, which resulted in her developing an eating disorder due to her mother's verbally abusive comments.
Ultimately, it is revealed in Stranger Things season 4's finale that the reason why Vecna was killing Hawkins teenagers was to create a massive gate that merges the Right Side Up with the Upside Down - and he specifically needed four bodies to do so.
Vecna draws power from sad and angry memories and that is the main reason he targets traumatized teens. Those teens are a well of power just there to be absorbed. This is not just a theory, Vecna himself told Eleven about the power that angry and sad memories hold.
Vecna's use of his victims' guilty conscious to terrorize his prey is an obvious tool in his arsenal. What is more subtle and powerful is that he uses shame to isolate and control. All of his victims, starting with Henry's father, believe that if people know the truth about them, they will face rejection.
Realizing he had tremendous psychic power, he haunted his family with visions before ultimately killing most of them. His father was framed for the murders and locked away in a mental hospital as a disturbed serial killer. Henry then found himself in the care of Brenner, who decided he wanted more kids like the boy.
Together, their powers combined are the exact powers of 001/Henry. Fans are now theorising that the powers of both 011 and 008, who have the combined power of 001, is what is needed to finally match and defeat Vecna. To put it simply, 011 + 008 + [with the combined power of] 001 = 020, a.k.a. Erica's critical hit.
She breaks free, momentarily incapacitates Vecna, and runs with the determination to live toward her friends, dodging debris that Vecna throws in her path. Max hurls herself through the portal, awakes from the trance, and is held by Lucas (Caleb McLaughlin).
Vecna's obsession with time appears to be linked to his hatred of humanity. He views time as a human imposition on the natural world; an attempt to impose order on nature.
After learning how Victor Creel was able to evade death back in 1959, Robin and Nancy deduce that playing the victim's favorite song can help them escape the trance that Vecna places them in, with music and happy memories being the only way to keep Vecna's fatal curse at bay.
He was eventually destroyed, and his left hand and left eye were the only parts of his body to survive. Even after the character achieved godhood—being a member of the third edition's default pantheon of D&D gods (the pantheon of Oerth)—he is still described as missing both his left eye and left hand.
Whenever victims become entranced or possessed by Vecna, their eyes form a milky glaze, until they meet their demise as Vecna plucks their eyeballs out. Also, when Vecna's victims hallucinate — an early indicator they've been targeted by Vecna — the people in their hallucinations have milky eyes.
This also perfectly explains why Vecna's Upside Down spot is the Creel House. It is the place where he discovered his “purpose” and he can hang out there with his deadly spiders and gain strength from taking lives.
Eleven has a memory during this episode and realizes that 001/Henry Creel (Jamie Campbell Bower) wants her to join him on his evil journey, and she banished him to the Upside Down. 001 then transformed into Vecna, the horrifying Stranger Things villain.
Then, as he was falling through the Upside Down, One became the creature Vecna after lightning struck him in such a way that it changed his skin and made him into the monster he is now.