"What makes the best type of villain" can be very subjective.
Though there are definitely both good villains and weak villains, what makes the good ones good is derived from a great number of factors in varying ammounts for each villain. Depravity, greed, violence, sadism, personal vendettas, false political beliefs, lust for power, perversion, cunning, insanity; all are qualities seen in the villains we consider good villians, but not all in the same one. There are many directions a great villain can go and identities/personas they can pursue. I won't bother to list all of them, but for some examples, pic related.