I regularly feel like Moloch, in digitized form, should have posed a larger threat than Adam. Adam was comparatively more limited; he was an amalgamation of not just technology, but a combination of biological life forms, all of which should have made conflict for any one of those components. He maybe should have been tougher than the average demon, but not require the Joining Spell.
Meanwhile, Moloch was connected to the entire internet and exploited security concerns that have only grown in the decades since. Casting him out of the internet, let alone constraining him to one mechanical form, shouldn't have been so easy. Plus, Moloch had actual mystical powers to augment his strength and other resources. The Initiative certainly didn't seem to have the first clue about how to use magic, let alone incorporate it into its design of Adam; let alone pass such knowledge along to him.
“In the game of chess, you can never let your adversary see your pieces.”
I've always been a fan of Moloch. I really liked his natural demon form. I think it was one of the best demon designs of the first season. And I just like the concept of a demon cult leader who uses people's "love" for him.
But I do agree, he should seem like a bigger threat than Adam.