When G2 was introduced I felt the impact because it was damaging blueno and lucci
When boundman was introduced I felt the change because it totally overwhelmed doffy and attacks were spot on.
When snakeman was introduced impact was felt even if katakuri was countering it because Luffy wasn't goofing around and his attacks were putting katakuri in bind in just one chapter.
But with G5, nah. I liked the awakening and notion of Looney tunes. It make fight interesting but tbh, apart from Luffy enduring hits he hasn't significantly pushed kaido. Infact, kaido almost defeated luffy last chapter before his heart beat pumped again to restore G5.
Initially, G5 Luffy literally was enjoying the fight and goofing around(a total contrast from earlier Gears versions when introduced) and his attacks look totally out of context except that punch which dented kaido face and now this punch.
To me, it could be because luffy doesn't know what happened to him. Unlike in past gears, luffy introduced them at his own will and thus knew what he was doing and how gear works thus the named attacks right from the beginning (Gomu no jet pistol or Kong gun)
But this time I think Luffy doesn't know what happened to him and thus have no idea what to do with abilities properly and therefore No named attack so far except - Thunder which is just luffy grabbing thunder.