Well, it depends on what you mean by 'like'.
For example, I like the Joker as a villain in Batman Returns; he's a really interesting, engaging character. I sure as hell do not like him as a person, but for being a villain, he's gold. So you're right, likeability and intimidation aren't mutually exclusive.
But what I meant in my original comment was a villain being likeable because they were a likeable person who actually had very good motivations. I can't really fear anyone if I think they're in the right.