>"Now, if we were able to dig deeply into linguistic history, would

we find ultimately that there are two elements. 'kona' - 'woman',
and 'ungr' - 'young', the whole word to mean the young (son) of a
woman?"

This has been suggested.

*kven-ungr -> konungr

This seems to call for some sort of matrilinear
cultural element for which there is scant evidence.

The Rígsþula mentions a "Konr ungr" which seems to be
a folk etymology for the word. ('Konr' is "man".)

The canonical explanation seems to be that the word is
derived from something akin to 'kyn' meaning "kin" with
a noun suffix. Thus:

þjóð (people) + -ann = þjóðann (king)
drótt (people) + -inn = dróttinn (lord)
kyn (people) + -ungr = konungr (king)

Kveðja,
Haukur