Loki could set the world on fire and I'd still not call him a villain.
He could kidnap Nami and I'd still not consider him a villain.
He could outright call himself a villain and I'd still not believe it.
My feeling is Loki is too cool, too sexy, too badass, too evil looking, to be a real villain.
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I am fully confident that all the rumors about Loki are not true
And I am fully confident that Loki will become Luffy's Sun God Tag Team Partner
Luffy will say "You know what? I think that two gods are better than one God" and he will high five Loki and ask Loki if he can beat up Shanks for him because he knows he can't do it himself
Then him and Luffy will walk into the sunset and makeout
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I would rather suspect Luffy or Shanks is the true villain instead of Loki. He's too sexy.