Shere Khan always struck me as neither evil, nor good. He strikes me as an extremely neutral highly efficient businessman. But if he had to come down on any side I'd actually say good because of the fact that again he would not allow his employees to be harmed. At the same time, that's probably because he views his employees as components of his success and empire, and is driven by powerful self-interest. However that self-interest is not to the detriment of others. He recognizes the use of working with others as well as even occasional harmony. He isn't out to conquer by force, but to win by simply being so good.
Did anyone ever notice was a parallel contrast between Khan and and Col. Spigot of Thembria, as perhaps an example of reasonable capitalism versus unreasonable Authoritarian-Economics / Communism? (And remember this was made in the 1980s when there were basically no indoctrinated kids from college who somehow believed Socialism would fix everything.)
Khan was always cool, if not emotionally cold, but extremely efficient. If you worked for him, you had a job, and were provided for, but he wasn't going to be your father, friend, or free ride. In Thembria, you had to do whatever you were told and home you got enough to eat, and didn't accidentally piss anyone off or just have bad luck. Though admittedly they didn't highlight how the authoritarian state dictated much in the show, aside from absurdities or the same of story.