I'm cutting Luminous' giant squid some slack because the game has so many animals it was bound to get some of them wrong, and while I don't know much about 3D rigging I'm confident the fluid motion of such large arms and tentacles would require more time and resources than the devs could reasonably manage. I'm a bit disappointed, but not mad about it.
When it comes to the best 3D giant squid the only other contenders at the moment are Abzu and Beyond Blue. Beyond Blue has the most scientifically accurate giant squid and I love it, but it doesn't have my favourite.
Abzu's giant squid isn't completely accurate (for one thing the colour is wrong) but I feel like it's the only one that really understands the vibe of architeuthis. Most of the giant squids we've caught on camera have been clumsy, slow, dying. But in the few clips we have of healthy, thriving giant squids they have had this incredible, alien grace to them. Abzu has been the only game so far that really captures that.