If the end is close, then no, probably not. You can say that the fight would be even more dragged out if Luffy loses AGAIN all you want, but those losses were ultimately just "there". Not many emotional reactions from the strawhats or allies and when there was, it wasn't for a significant period of time.
Alabasta, Water 7, Thriller Bark, Sabaody-Marineford (obviously) and Whole Cake are great examples for what the fight needs imo, and I would be extremely disappointed if the reason Moriah called the new world a nightmare (Kaido) gave enough opportunities for drama but never really delivered.
And yes, I would be even more satisfied if we had gotten that like 30 chapters ago, but it is what it is.