So if a Kraken gets 11 attacks as a full round action, shouldn't he get at least half that number as a standard action?
Nope, Nobody does. Unless you have a special action, such as a pounce, you cannot move and get a full (or half) attack sequence.
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A critter as advanced as a Kraken shouldn't have to move and attack. The things only have one stat under 20, the idea of one without class levels and crap loads of minions would be hard to believe. I couldn't imagine it's strategy being move+attack. Odds are they would have more sophisticated strategies.