This is One Piece. A single answer won't do it.
Villain first half, ally second half. Like a Bellamy. Like a Yamato.
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You guys need to think about it...Loki is exciled by the whole country. He apparently has zero allies in Elbaf. Everyone thinks he is cursed and has done unjust...how can a person who is that solo, be some kind of arc villain?
He might create some chaos, but he will never be an arc main villain. Those that captured and exiled him into the woods will be the arc main villains...those that framed him.
It is so obvious One Piece...think guys think. Lol