The Borg kind of went down that path in that they were trying to reach "perfection" but had little regard for the species being assimilated.
It's not that they held little regard for them. It's that they were helping them attain perfection.
The humanization of the Borg started during TNG with the appearance of Hugh. I think that was the third or fourth appearance of the Borg.
But they didn't regard them as "people." Merely tools on their path to "perfection." Everything else was "irrelevant.

I didn't mind the humanization of the Borg with Hugh, and it certainly allowed Picard to gain a different measure of closure after being Locutus, which I thought was interesting. But, that is a fair point that it started much earlier. I think it was done better in that episode as well.
But, the humanization came at the expense of the mystery and fear of the Borg as it continued on with VOY. TNG toyed with it, but left it more or less a mystery. Even "Descent" can't be really seen as Borg, because they were an aberration because of Lore.
Regardless, I don't mind recurring villains if they are done in a way that presents them as 3 dimensional with their motivations.