Just like most of the arcs, Elbaf will probably have two sections. Loki will probably be Luffys villain in the first section, I would hope alongside Usopp so Usopp can get some character moments here. However the second section villain will be dependent on how the arc will connect to the overall storyline.
Zoro may just fight fodder the first section and the rest of the straw hats probably won’t have a serious fight at all till the second section.