I think the last chapter proved something very important: Kaido one shotting Luffy wasn’t just some casual attack.
If he did the same with a beast like Oden, that shows just how powerful Luffy was already.
Now that Luffy has the ability to damage Kaido (Advanced Armament Haki), it will be a real fight.
With future sight in play and Kaido’s thus far slow movements, Luffy could theoretically beat Kaido, if he can dodge or block all his attacks.
Let’s remember that this guy is going to be the Pirate King. People seem to think that One Piece has another 10 years of power building going on for it. We are getting close to the endgame real fast and Luffy’s final opponents are supposed to be even stronger than Kaido.
Luffy got trashed by Crocodile in their first fight in Alabasta and yet still beat him by the end of the arc. Lucci yeeted Luffy to oblivion and got his ass whooped eventually in Enies Lobby.
This is a shonen, as the story progresses you’ll see stronger and stronger characters and Luffy will improve every time until eventually becoming the strongest. If he doesn’t become Yonko level now, then when?