I have seen Moonraker several times over the years, and always feel it is excellent as a Bond movie. The movie gives me a sense of nostalgia for the cars and objects I remember from many years ago when I was a kid. You don't see that style of Ford trucks any more -- and notice that Bond films over the years seem to focus on Ford vehicles if they are filmed partly in the United States. It is useful to study how the sets are constructed and what furnishings are provided. It brings back a bygone era, and often, that can make up for other things that a movie is missing.
This movie has no subtlety at all. We are quickly shown that Drax is indeed a villain within a minute or so of seeing him. From then on, it is very clearly Drax vs. Bond: evil and good, black and white, Death and Life. Of all the Bond movies, the scene in which dogs are unleashed upon one of Drax's employees is one so brutal I can't bear to watch it. I'm bothered by how Richard Kiel (Jaws) is used in the film, the role feels a little like he is being insulted by using his height and great strength to cast him as a freak of nature. However it is also a role where Jaws experiences love and begins a transformation. We can wish them both a happy ending to their adventure.
It is hard for me to judge Roger Moore as a Bond. I like his keep calm and carry on Eton approach. He is a very good Bond. We see him thinking about what he is doing, even though it is remarkably easy for him to add 2 and 2. We see him loving the girls and fighting the bad guys, which is to be expected. (He seems to endure hand to hand combat with boku-wielding ninjas better than he did in "The Man With The Golden Gun" against trainees who had only their fists, but that is another miracle story.) As 007, he succeeds against his villains effortlessly, and that is hard for viewers to accept. There is no doubt in my mind that the two best Bond actors are Daniel Craig and Pierce Brosnan. Both have an explosive power and immersion into their roles that is authentic to viewers. Where Moore doesn't get so much as a chipped fingernail, Craig is often wounded and at least once tortured. We see he same things happen to Brosnan, again with authenticity. Connery experiences wounds and torture as well, but with less authenticity than Craig and Brosnan can convey. Moore goes on without a scratch, Craig and Brosnan and Connery bleed and go on, and are therefore more interesting. But note, they make stunningly rapid recoveries from wounds and torture.
In Moonraker, most of the scenes lack real authenticity. It is hard for the viewer to believe Bond's ability to survive and then destroy Drax despite all the obstacles. Drax's villainy is cleverly played, and it carries authenticity; his attempts to kill Bond should have worked. We can believe Drax: we can't really believe Bond. For instance, why would a space shuttle need an air shaft under the launching pad? It seems such a good way to destroy the launching facility.
Even so, I give this movie 5 stars. I love watching it. I love seeing the old Ford trucks and 1960s/1970s buildings. That's a '5'!