Another great counterargument for my facts.
As
@nik87 said, Kaido's top 5 are only those who can fight him, people outright superior to him are excluded from his list.
Loki is one of the people that Kaido didnt fight, just like Mihawk.
While we know Mihawk is stronger than at least one of Kaido's top 5, we dont know if the same applies to Loki.
You could be right but also not...
@nik87 do you think non distracted Oden can beat dragon Loki ?
Depends on Loki's defenses.
He should be significantly easier to cut through compared to Kaido, due to lack of azure dragon scales, but his size could be a problem.
Unless his dragon also has extremely tough scales.
Ultimately, he wasnt strong to completely bypass Kaido's defenses and his haki defense which means that Kaido was ultimately stronger.
If Oda decided to turn him into a failure against one dragon, he might choose to do the same here.
Kaido's dragon and Loki's dragon are the two dragons that the world needs in order to change. Their defenses might end up comparable.