I agree about "The Bounty" being a better, more accurate depiction of Bligh.
However, it this 1935 version of the novelisation of Captain Bligh's Diary, well, they had to make Bligh out to be a real bastard. Even today, when we react to someone who is bossy, we tend to refer to them as a Captain Bligh. Probably this is due to 2 Hollywood moovies and 1 Hopkins/Gibson portrayal.
This film is more accurate the the later "The Bounty" because of the depictions of the regular, able seamen and the conditions they had to work under. It brings in mind "Master and Commander" which really showed how hard it was to be pressed into service on a ship in the 1800's
Remember, these men were not draughted, they were collected, "shang-hai'd" so to speak.
"As I was a walking down Radcliffe highway, a recruiting parting came a-beating my way"
That's the way it was back then, the royal navy collected men at will from anywhere. There is even a scene where Gable as Christian collects some men, one of them tries to say, "I am not cut out for ship duty sir, I am but a Tailor" - And Gable pulls open the man's shirt, revealing his Tattoo.
So, Apart from great performances by Franchot Tone, Clark Gable and Charles Laughton (A really good performance from Laughton) this moovie is GREATLY acted, wonderfully directed, and compleatly entertaining. Someone wise once said: "Adventure is someone else having a helluva time 1,000 miles away" well, this moovie certainly has a lot of Adventure.
Now, I wish to immediately find my copy of Master and Commander and watch it! I love moovies about the sea, and pirates, and cannons and swabbing decks and really bad eggs!
The novel on which the film was based was not a "novelization of Bligh's diary." Rather, it was a novelization of the incident, based on many sources, and portrayed Bligh as a much more complex character than the film version did.