Sinestro is so awesome. Johns (and in this case, Tomasi taking Johns' lead and running with it beautifully) is making the ultimate one-note mustache-twirling villain into one of DC's most compelling, complex baddies, much like they did with Black Adam before they botched it.
But unlike Black Adam, Sinestro still manages to stay juuuust on the side of "creepy as fuck," even at his awesomest. The most dangerous kind of villain indeed. Remember, in the Sinestro Corps War... this is the guy who won, even if only a handful of people know it.