Emperors have influence. True. But bounties don't include much related to this influence
Influence -> Threat Level -> Bounty.
Its as direct as it gets.
If that was the case, every Yonko should have same bounties given all yonkos are in a deadlock situation for decades. But that was not the case here.
Huh? Who said all Emperors have equal amount of territories & influence as well? They are in a deadlock, that's all. Like I didnt see Kaido have something like Tottoland Archipelago lvl influence.
At the same time, Luffy became yonko and Kid/Law didn't become one even though all three have the same bounty. That extra influence Luffy had didn't helped him gained extra bounty over Kid and Law.
Because the WG split the bounties of Kaido + Big Mom by 3 for the trio. Yet one was made Emperor while the other two werent.
Do you think Rayleigh threat level fell down because he was not sailing with Roger? I mean Kizaru thought it would be tough to arrest him even when Rayleigh past his prime. Do you think WG reduced his bounty or took back the bounty poster because he was not a threat or an active pirate anymore?
Yes, Rayleigh's threat level ofc falls down. His bounty doesnt since they dont reduce bounties and his bounty would still be the same as his Prime self. These are reasons why Washed Up Pirates like Chinjao are still considered "Legendary".
Kizaru & Garp talking about Rayleigh like that is hype for his Powerlevel. He is still a single dude but in his Roger Pirate days, touching Rayleigh means touching the Roger Pirates itself, hence the threat is higher.
Point is stronger individual not associated with government is always a threat for them, doesn't matter whether the said person is active or not. Only way he stops being their threat when either he gets captured or when he is dead.
I'm not saying Mihawk isnt a threat at all, thing is Mihawk's threat is solely from his strength while for the Emperors it has influence, territories and other factors in play.