Ranking Every Major MCU Netflix Villain From Worst To Best
4. Billy Russo (The Punisher)
While Billy Russo doesn't fully assume his role as a villain during season one of The Punisher until several episodes in, he quickly makes a name for himself as a strong, capable adversary for Frank Castle.
In short, Russo is what happens when the "friend turned enemy" trope is done absolutely right. Diamondback came close, but Russo absolutely nailed it.
It's his relationship with Castle that makes him truly interesting. At one point, they were practically brothers, with Russo being in Frank's military unit and close with his family. In fact, even after Russo's true colors came out and he vowed to kill Frank, he bizarrely still maintained a certain amount of loyalty to his former friend.
That's not to say that he still isn't utterly ruthless, because he definitely is. From his rocky partnership with William Rawlins, to the resentment he feels for the mother who didn't want him, to his calculated manipulation of Dinah Midani, it's not easy to get one over on Russo and his twisted moral code. What's more is that he's a stone-cold killer who is trained just as well in military-style combat as the Punisher himself is.
Finally, seeing as how the season finale of The Punisher saw the beginning of his transformation into Jigsaw, he could be even better when the show returns.