So, was emperor Blackbeard ~50% Big Mom when he had a 2 billion bounty? Want me to write the list of things BB had to amass to get a bounty barely over Crocodile? Big Mom and Kaido earned their bounties with years of activity as Great pirates while Buggy got 3 billion just for being associated with Mihawk. They don't even want to give him a bigger bounty than him even when they mistook Buggy for the captain. That's how overwhelming Mihawk's presence is. This isn't gonna stop here. Buggy's bounty is gonna skyrocket for things Mihawk will be doing from now on. Buggy will be a contender for the PK title due to Mihawk's future actions. It's too soon to fear him. Scary things are coming our way.
We know this because BB didn't go extreme diff fight with anyone, while 3 captains did on Wano.
The point is you can be Yonko or fifth Emperor with much lower than 3 b because being Yonko doesn't boost bounty.
Similar to how Zolo (1.1 b) beats Alber (1.3 b) still Alber has bigger bounty, they say Buggy (3.1 b) is stronger but Mihawk (3.5 b) has bigger bounty.
Just like with Alber, Zolo can beat Mihawk and still have lower bounty.
That doesn't make Alber's power or presence ''overwhelming''. There are other factors similar to God Usopp or Robin's extra bounties or Vinsmoke Sanji's 330 over Zolo's 320.
If you remember people were assuming:
1- Mihawk is harmless to government (some said Mihawk isn't even a pirate)
2- Being Yonko boost bounties
3- You can't have bigger bounty than Captain, Captain gets extra
All proven to be wrong in 1058. Under these circumstances, if Mihawk was really Yonko level like Shanks or Bigmom, he needs 4 billion similar to how Law and Kid get equal bounty to Luffy. Yet you can be stronger than Mihawk and just get 3 billion.