I can, of course, already hear the cries of "What about Gabby Gabby? Did you even watch the movie?" And to that I say, let's take a walk through the franchise and see how the definition of villain has changed through the years, and you may be shocked with what you discover.
See, in Toy Story, the first couple acts have no real villain. The closest thing to a villain, in pure Pixar fashion, is the percieved irrelevance that comes with time. Woody is replaced and neither Buzz nor Woody is the enemy, but they're directly at odds with each other. Still, the third act introduces Sid as a direct threat that destroys toys purely out of some sadistic desire for destruction and violence. We see him destroy several toys, but also see that he's just an all around bad kid, as he's a jerk to everyone around him, even those he is aware are sentient. Sid is bad because he's bad, and that's the entire story.
In Toy Story 2, we get a duo of villains. Or original villain is just a greedy business man that is willing to steal a toy from a yard sale for profit. We have a motivation and drive for his evil deeds, but he's still basically bad. Stinky Pete, on the other hand, is a very sympathetic villain; so much so that he wins over Woody to his ideology, albeit for only a short time. Still, at the end of the story, it's established he is truly evil as he moves past gentle persuasion to more villainous tactics.
By the time we hit Toy Story 3, Lotso is our clear villain, and though there's a slight surprise early on, he's basically the central villain through the bulk of the film, but then we get his backstory. We learn he was once loving and good. We learn he's been hurt and is acting not out of greed or selfishness as in Toy Story 2, nor out of just pure badness as in the original movie. He's bad because he's been hurt. He's bad because he's broken. He's bad because the world is a hard place, and he is just trying to make it make some sense again. We don't excuse him, but we hurt for him. He was Jessie just a movie ago. We remember how she felt being cast aside and Lotso's villainy is exactly where she was heading at one point.
Now, let's look at the final (at the time this post was written, that is) installment of the Toy Story franchise. Here we have a pretty well defined central antagonist, right? Gabby Gabby leads an army of henchmen to tear apart Woody for parts. It sounds pretty evil, except, it's clearly established that she is not evil at heart (and neither are her dummies, for that matter). She desperate for a kid, for love, for attention. She doesn't want to hurt other toys, but she also knows it's her best bet to get things to finally start going her way. She's Woody from the first film, so desperate for affection she loses sight of those around her. Woody tried to get Buzz lost so he could be the favorite toy, and Gabby was willing to take a voice box from Woody to make sure she finally gets a kid. In the end we are rooting for her and genuinely happy for her when she gets her happy ending. She's intentionally presented like a villain when we first meet her, but then the film spends the rest of our time with her proving that first impression wasn't the real picture.
So, here's my prediction for Toy Story 5, if it ever happens. We meet a friendly character, that then is revealed to be secretly evil, only to find out they've really been good all along after all. Either that, or no villain at all, perceived or otherwise. Either way, there will be situational conflict and conflict of perspective and priorities between characters with no true good against evil anywhere in the mix.
So, hopefully you agree that Toy Story's villains are progressively more sympathetic and less villainous. Still, the question remains, does this trend exist elsewhere or is it just Toy Story? Well, Hopper from a Bug's life is a true villain, but there's definitely no villain at all in Inside Out, so Pixar seems to be making that transition across their entire works. Aladdin had Jafar and Beauty and the Beast had Gaston, both irredeemable monsters, but Frozen barely has a villain (there's a bad guy, but he's responsible for a tiny portion of the conflict that arises through out the story) and Frozen II has no villain at all. Looks like the trend is prevenant in Dinsey animation in general. Then there's the contrast between Loki in the Avengers (you may not remember, but Loki hadn't really done anything redeemable yet) and Thanos in Infinity War/End Game who practically convinced the audience that he might actually be right. It seems this trend is quite pervasive.
What does it all mean? I'm not sure. Perhaps it's a reflection on society and our mistrust of those around us, that we believe the worst things in the world aren't the results of evil men, but of those that have reasonable but misguided perspectives. Perhaps it's an attempt for filmmakers to promote the idea that those we view as enemies are perhaps a little more good than we'd think. Perhaps it's an attempt to break out of a story structure that some filmmakers may view as old and tired. Whatever the reason, I hope kids growing up with these films are growing up understanding that those they disagree with are less evil than they may have felt at first glance. I hope, too, that great villains aren't a thing of the past. There may be value in a Gabby Gabby, but she'll never be as iconic or as fascinating as Maleficent (before the live action movies ruined her, that is).