Loki having a good side underneath only means that he'll likely to be redeemed by the end of the arc, which I always thought was going to happen.
If any this chapter convinced me he's going to play an antagonistic role
Pride in Elbaf history of wars and violence seems to be a big part of his character, and he looks down on human seeing the way he refers to them.
This creates a conflict with the current Elbaf that is all about peace and exchanges.
He also neve claimed to be innocent when he was trying to convince Luffy to free him, which implies he really killed the king.