He should but he won’t.
He also should have left Luffy as “dead” for a good ten chapters way back when Kaido tossed him off the island and then had him return on the back of a gigantic dragon as a big cliffhanger. Fill in the gaps later as a flashback.
Instead we already know the same chapter Luffy was defeated that he’s coming back.
Now, obviously, we all know that Luffy will come back and win eventually, but Oda could do a lot more to keep the tension and excitement higher. Think back to Alabasta where he was willing to keep Luffy out of the action for like fifteen chapters and let the other fights finish without him.
Although even there he had Robin save Luffy like the chapter after he was defeated by Croc instead of leaving his fate unknown for long. So it’s not like this problem is totally unique to modern Oda.