I actually don't think the head situation is that bad, looking at comparative photos. The photos which show him in a flight position on Seibertron have the head in the same position. What might be causing the issue is that the top of the backpack features those two black blocks which lack moulding, which I'll address shortly. I think the problem is more that with the top piece of the backpack being the same colour as the head, the head gets lost visually far easier than it does on the G1 figure. I'd have kept them yellow - unless something in Predaking's deco was so crucial that it meant they had to be black.
The moulding is definitely the problem there, but I'd argue that not in the way you're arguing it is. I note that behind the 2 black strips across the top are what looks like part of an air intake system and the tailwing assembly looks like a thrust nozzle. The problem I see is that top black piece. Had it been actually moulded as a pair of air intakes, then the whole backpack would easily have looked like a scramjet with wings, which would have been incredibly fitting for Divebomb. Sadly, those 2 unfinished parts have let the entire backpack section down compared to what it could have been.
I appreciate where you're coming from but I don't see how it would have been possible for them to do that, have the proportions as they do and give Predaking a giant backpack with wings.