I think the biggest take away from latest chapter is the fact that Luffy is already in Gear 4.
Gear 4 as we knew it before used to be Luffy’s trump card, a power he would use at the end of each fight. Against Doflamingo, Cracker, Katakuri, he wouldn’t use Gear 4 until he would try out all of his other moves to make sure they can’t do anything.
In all of Luffy’s main fights in major arcs, he does not use his main form/strongest power from the get go, he usually builds his way up to it.
What does this mean?
Luffy using Gear 4 early on in this fight could only mean 1 thing. We’ve had a running situation in Onigashima with Luffy using Gear 4 very casually, like what Gear 2/3 used to be post timeskip. He’s already using it at the start of this big fight like it’s not the biggest thing in his arsenal.
Luffy definitely has something much bigger up in his sleeve. Whether it’s Gear 5 or Awakening it’s gonna be what will be used at the end of this fight.
Coupled with Luffy’s confidence in this fight and how the stakes are really high, Luffy is, with whatever he’s bringing to the table, definitely Yonko Level.
*Theory by VWtheLegen