Yep, people taking that statement seriously is insane when it was just a simple callback. People forget that Oda himself doesn't powerscale, it's a fandom thing. He didn't write that line for you to think "Wow Luffy is as strong as old man Ray" he wrote it to call back to the last time they met and to make Luffy boast
(1) Garp mentioning Whitebeard & Rayleigh in the same breath as Legends.
(2) Oda mentioning Shanks & Rayleigh in the same sentence when talking about CoC, in a question not even related to Rayleigh.
(3) Blackbeard being afraid of Rayleigh's reputation.
(4) Now this statement...
Rayleigh is consistently been compared to Yonko by Oda, time to accept it.