Well, I wouldn't want to live under either, but Law do oftentimes seem to go out of their way to be supercilious dicks.
They did get away from this a bit with SJ as they made the chaos hero an American and in SMT4 the rule of the strong is clearly linked to financial power, so chaos is also associable with capitalism even, but in the early games law being negatively portrayed has a lot to do with a certain anti-Westernism.
On an abstract level law is obeying the law for the sake of it and chaos results in rule of the strong so neutrality is the escape from falling in either trap but in each individual SMT these concepts might be concretely linked to certain manifestations. SMT with its restaging of the WWII nuclear bombing, of Tokyo this time but again by the Americans, which already featured in MT2 by the way, emphasizes these associations.
Like DQ's Horii, Nishitani, the author of the novels is clearly pro-Western culture, even though he creates a modern myth based on old Japanese mythology. The devs at Atlus at the time favored Lucifer as an alternative to the full embracing of Westernized Japan, where everything Western was considered right just because Japan had lost the war.
There was a good ending in MT2 where the demons disappeared again and a bad one where the Messiah creates the 1000 year reign in which only the strong survive. So the negative aspect of later chaos was attributed to law as well.
Okada brought a more balanced viewpoint in SMT and had three endings instead of two and neutral not as clearly marked as the good one, so as to not impose his view on players too much even though he usually comments on neutral being the best approach in interviews.
In Persona 2, Satomi returned to the pro-Western and pro-law viewpoint of Nishitani and reveals part of the chaos narrative as revisionism. Wanting to stay true to your heritage and identity is not a bad thing but you obviously have to face historical facts as well.
In recent games they have been exploring the notions of law and chaos in all kinds of different contexts and the constant is simply that the extremism of the different choices for recreating the world is what causes problems.