Depends, current Luffy is stronger than EoW Luffy, see how he can now use G5 better and has truly perfect control of G4(which he can use in base).
And beating G5 is impossible, we saw the only way to beat it was if G5 run out of stamina.
Kaido as example couldn´t knock out G5 in anytime depends hitting him with his strongest moves.
If Loki knocks out G5, he has a better AP feat already than Kaido since Kaido failed to beat G5.
Featwise will tell us where we can place Loki in the end.
He was called the strongest by fodders, no one of the strongest ones called him the strongest one.
In fact Luffy already surpassed Kaido in his current states, you know Shonen logic better than me.
Kaido will be surpassed, from Loki right now or later by Akainu/Shanks/Blackbeard, he wont be the strongest character.
In the moment where Luffy beat him alone in the end, surpass his strongest mode, in that moment I know Kaido wont stay as the strongest character.
But we need to wait for Loki powerlevel and feats.
And beating G5 is impossible, we saw the only way to beat it was if G5 run out of stamina.
Kaido as example couldn´t knock out G5 in anytime depends hitting him with his strongest moves.
If Loki knocks out G5, he has a better AP feat already than Kaido since Kaido failed to beat G5.
Featwise will tell us where we can place Loki in the end.
He was called the strongest by fodders, no one of the strongest ones called him the strongest one.
In fact Luffy already surpassed Kaido in his current states, you know Shonen logic better than me.
Kaido will be surpassed, from Loki right now or later by Akainu/Shanks/Blackbeard, he wont be the strongest character.
In the moment where Luffy beat him alone in the end, surpass his strongest mode, in that moment I know Kaido wont stay as the strongest character.
But we need to wait for Loki powerlevel and feats.
AP is one attribute, Kaido was also outperforming G5 repeatedly.
He was called the strongest by Kidd/Killer and King who aren't fodder, Oda in an SBS, many times by the narrator, in the databooks/vivre cards, Ace novel, and Kaido himself says he's the strongest after fighting Shanks, and obviously knowing about the strongest people alive at that time.
Luffy has not surpassed Kaido at all.
Kaido > Shanks/Dragon/Akainu/current Blackbeard is already stated, only one of them has been called the strongest alive.
Your opinion doesn't overwrite things stated within the manga and even by the author himself unfortunately.