it can be interpreted that way. I would argue that Magneto isn't someone who changes. he wages a personal war inbetween relapsing into seclusion. it's only the way that other people react to him that changes. the X-Men have moved further right. and that makes Magneto seem like less of a villain. but he's still out there brutally killing potential enemies of mutantkind. he's still lying and manipulating those around him. he's not a bank robber or the type to gun for someone out of envy (like with doom and reed). he's a terrorist who sometimes passes as a freedom fighter.
similarly Loki is literally unable to change. he's a pawn of chaos doomed to cause mischief and shoot himself in the foot over and over again. he's a villain because of fate.