This was a delight. I was excited to see Dio in a role in which he could converse with someone again. In my memory, the most substantial Dio scene was his discussion over what power is with Enya. His lack of presence has been a little disappointing, but this was all about building up how scary he is and how he may have changed from that little kid we knew in Phantom Blood.
What I loved about this is how we got to see Dio’s persuasion first hand with all the women that apparently willingly give their blood to him, and the way he wins his followers over. Everyone speaks about Dio as a frightening presence and N’Doul spoke about how, for the first time, he feared for his life, and his value was seen. Dio did this to Hol Horse right here! Hol Horse tried to do what Speedwagon did to Dio many years ago and shoot him through the head, but Dio caught onto this and appeared behind him. He made Hol Horse fear that he was about to die and then acknowledged his strength in the fact that if Dio didn’t counter, Hol Horse would have stayed calm and fired. In a single motion, Hol Horse has realized he has a far better chance to kill the bro team than Dio and if he doesn’t, a death he cannot even conceive of will consume him.
In fact, it’s interesting. A part of me thinks Phantom Blood Dio would have killed Hol Horse in a rage or something. The reason of course was because he hates vermin who don’t know their place, in his own words. Yet, while his response still fits that, he made sure that Hol Horse knew the levels between the two of them, and therefore knew his place. It’s just far more collected, without a hint of repulsion. More akin to, while not exactly, the Pillar Men than the brat he was, seeing something valuable in someone challenging him. With how he was looking into the mirror earlier on top of this, maybe he's found some inner peace to refute that inferiority complex he was constantly fighting off. I say this obviously because when challenged he doesn't have such an emotional response to prove them wrong, it's more calculated. From what we've seen at least, we haven't seen much.
Further, although a bit convenient for the bro squad that Dio didn’t have all the stand users team up constantly because then they may have actually lost, Dio suggested he should not underestimate them. That he should be the one to defeat the Joestars. And assuming he already has a stand which is one of the strongest and vampiric abilities, there is truth to that, he is being cautious. It’s as if he is using the stand users, not expecting to win, but to slowly adjust to his body. He wants to be at his fullest and strongest before facing them, and I expect him to go out swinging rather than saving his powers until it's too late this time.