Ya, I think people are just in denial with how Oda draws villains until they just lose to finishing blows. Kaido is on the verge of being done. It's been a long fight. And a well deserved finish at this rate. The Yonko has proved his worth to the story, it's a good end.
I really like
@EtenBoby 's interpretation of the whole thing. It implies at least Kaido should have 1 more massive move to dish out to Luffy before he throws that punch at Kaido. Plus, Momo clearly needs whatever time to actually resolve his weaknesses and move the island.
I'd even say it's safe to say 1048 is probably, finally "Luffy vs Kaido", with their final 2 attacks being the major focus. I do question that if we are meant to see a flashback, when would it happen lol? It is interesting it hasn't occurred yet. Maybe it's just combined with Yamato or something if she's meant to join.