Loki isn't the villain, he's a victim.
The Admirals fans did alot of damage to loki by overhyping him.
He is stronger but bellow yonkos.
Both luffy ad zoro didn't use their true power against loki.
Zoro used a kick and luffy used à folders punch.
If loki didn't had seastones they still do the beating with a serious named attack.
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Since when does Luffy have a no killing rule? When he punched Kaido into the magma, did he think Kaido was gonna get tickled?
He know loki is innocent that is the difference plus he can always beat loki again.
Luffy wont let them kill an innocent.
Also we got confirmation that harjudin was keeping loki chained out of resentment, Harald dead is just à perfect excuse to keep loki chained and turn him into a pariat and because loki was already a troublemaker that prank everyone it was easy to make the giants turn on loki.