Most Espionage-Oriented Bond With A Not-So-Villainous Goal...
It's weird that this movie starts as a direct sequel to the 1969 Oh Her Majesty's Secret Service, with the not-quite-Blofeld sequence following a visit to Teresa's grave. I'm not sure why they didn't follow that up in Connery's Diamonds Are Forever , The Man With The Golden Gun or even Live And Let Die?
In any case, I thought that Kristatos was a really interesting villain here. His only goal was to sell the A.T.A.C., to the Russians, but didn't really trust them that the deal would go through as planned.
He felt like the most grounded villain out of all of Bond's villains. He was conniving, rich, and duplicitous, but it fit the role of a smuggler and shrewd businessman.
He wasn't trying to do anything ridiculous or over-the-top, and never once clued Bond into his master plans (since he had none, other than selling the device to the Russians).
It's a shame this movie was given to Moore because, the goofy lighthearted stuff fitted Moore's more over-the-top, charismatic wit and British humour, but I felt the more grounded and gritty elements were more akin to the strengths played up by other actors.
In fact, I think this film, For Your Eyes Only, and Casino Royale, both would have benefited from being in Timothy Dalton's wheelhouse, especially Casino Royale, since Dalton was far more suave and bitingly sharp in his portrayal of Bond than Craig. I could see a younger Dalton chewing up the screen in an awesome way with Casino Royale, just as I could definitely see him playing a very on-his-game and quick-witted Bond in For Your Eyes Only.
I think it was Moore's lackadaisical approach to the character that didn't mesh well with the more serious espionage stories like this one. I think Dalton would have pulled it off far more convincingly, especially that absolutely cold-hearted kill of Locque on the cliff-side. A close-up of a stern-looking Dalton after Locque falls to his death would have been enough to sell that scene alone.