Based on Luffy own words and how he view fights, Kaido legit won this one if Luffy not stand up.
Or did Luffy never won against Cracker or Katakuri? Ofc he won, but as Luffy said, pirates not know any fairness...
Cracker fought 2vs1, got his ability nerfed yet no one cry about Luffy victory.
Yes I wish Kaido would got a better win, but it is still a victory as the titel call it out, such as fairness, only Luffy villians like Katakuri or Kaido knowing it, Luffy himself don´t know things like fairness...