Design wise, Hobgoblin looks like Etrigan the Demon with an orange vest and hood.
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Ditko's Goblin has the more original design however silly it looks to some people.
A villain who acts rationally ceases to function as a supervillain. It doesn't make for interesting material and certainly not for a dude who flies around a glider and drops bombs. And at the end of the day, Norman Osborn went 40 years without facing prison, whereas Kingslet went to jail 10 years after his first appearance. So what does rationality done for Kingsley? He ended up losing his company, and a lot of his income and now is a low-level fence. He is far less powerful now than he ever was when he first showed up.Other things I like about him is that while he is described as the "sane" goblin, the truth of it is he is more of the savvy Goblin. He knew it was best to "not make it personal" unlike Norman. Spider-Man was a threat to be neutralized but that was it. And when things didn't work out, he faked his death and retired on a tropical island. I enjoy it when villains act rational.
Crime Master was a one-and-done 2-Part story and the identity of the Crime Master was a spoof and a red herring about Goblin's identity. Introduce a new mystery on top of an existing one and introduce the idea with that guy being a rando gangster.While the Kingsley reveal seems somewhat anti-climatic to some, it's not really any worse than the Crime Master's reveal,
Norman was far more established than Kingsley was. He was an associate of Jameson, then we saw him as Harry Osborn's Dad, and in the last stories that Ditko wrote, Norman himself is characterized as an embezzler, a corrupt businessman, who is also a shady dude who siccs mobs on Spider-Man and can sucker punch him from behind. We got to see Norman in multiple aspects before his reveal. He's rich enough to be friends with Jameson, he's close enough to Peter via being a dad of his classmate's, and of course we see Norman as a ruthless businessman with corrupt practises....or even Norman Osborn, who was also barely established as a character before he unmasked in front of Peter Parker.
We didn't get any of that with Kingsley before his reveal.