Which CONJURING villain is more evil
BATHSHEBA (first): While most of the ghosts were simply sad beings who didn't mean any real harm. Bathsheba is a sadistic Satanist who is just as bad as you think she is.. Having failed to sacrifice her own newborn son before her suicide, she curses her land.. Any mothers unwittingly buying the land become possessed and forced to murder their own children before forcing their own suicides.
Currently, Bathsheba torments the most recent family to inhabit her lands until the paranormal investigators Ed and Lorraine Warren arrive. When Bathsheba's attempts to drive them off fail, she heads to the Warren's house and allies with a demon trapped in a doll (Annabelle), by releashing it from the case Ed put it in (like in real life), As Annabelle distracts the warrens by trying to straight up 'murder' their daughter, Bathsheba possesses the original family's mother to try to murder her own children and tries to drag the mother to death with her while being exorcised. But she fails and, by excerist, is sent back to hell..
VALAK (Second): the entire movie frames Bill Wilkins as the evil spirit. Having been targeting Janet to possess her to kill her family.. But turns out he's a victim himself.. The TRUE villain is Valak.. Valak is the demon behind the Amityville horror. The story of a man claiming that a demon influenced him to go all "jack torrance" from the Shining, murdering his family, mostly childrun.. So yeah. Not just a ghost, Valak is a full on demon.. One who followed Lorrane Warren from Amityville, and continues haunting her. But also attaching itself to Bill Wilkins, denying him any chance of moving on, till he torments that innocent family he has no malice towards (and only wanted them to "leave his house").. Worse yet. Valak has no clear reason/motive for doing all this. She seems to just do it "because she can".