I think the biggest take away from latest chapter is the fact that Luffy is already in Gear 4.
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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.
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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.
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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.
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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.
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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