I'm a big fan of Foucault's conception of power.
I think Machiavelli is commonly misunderstood by most people alive today, though. The bulk of The Prince consists of positive statements, not normative ones. In other words, Machiavelli is describing his conclusions from observing a number of powerful families. He makes few value judgments of his own, but rather the book is framed as a set of tactical advice: "If you seek power, these are a set of strategies that will help you attain it." At the time he wrote The Prince, Machiavelli was not particularly powerful - in fact, he'd just been stripped of office, imprisoned, and tortured, and the book was an attempt to curry favor with the Medicis, the new Florentine elites. It was largely successful in this regard, in that Machiavelli was allowed to live out the rest of his life on his estate without further interference.
"It is better to be feared than loved", as a factual statement, appears to be true. Take a look at the approval ratings for U.S. Congress, President Trump, Putin, Xi Jinping, Mugabe, or any other powerful figure and then tell me, with a straight face, that they are loved. People take offense because Machiavelli is describing true statements that we wish were not true, i.e. they judge the work on normative grounds when evidence from the framing & history of The Prince suggests that it was written as a set of positive statements.