So is conqueror's Haki just fodder control, or is there more to it? First of all, we notice that CoC is often used synonymously with "ambition". You could as well say will power. When Shanks entered the ship of the great Whitebeard, one of his top commanders, Jozu, pointed out in awe how crazy the ambition is Shanks exerts.
When Blackbeard initially saw Luffy's 30 million bounty poster, he called it odd for a kid with such Haki/ambition to have such a low bounty:
As per definition, ambition is: "a strong desire for success, achievement, power (or wealth)". According to Chinjao, the fight for the throne of the PK is decided between those conquerors, between those with the qualities of a king. That's why Kaido said that they don't need so many conquerors running around, because it would only end up in a conflict between conquerors.
Knocking out people with your sheer will power is but one facet of a much more general term. Simply put, conquerors have much higher potential and a much higher growth rate than those who are not. They have a much higher ambition and will power to achieve their goals by all means, even if it means pulling themselves through death and never subjugating oneself.
(S)he who is not a conqueror, can never hope to stand at the top of the world.
Apart from generally being the ambition/strong desire for success, achievement and power (which translates to your potential and growth rate), conqueror's Haki comes in many applications, one of which Mihawk himself called "the strongest ability in the entire ocean". Yes, that's correct, it is one of the many applications of conqueror's Haki.
Mihawk calling Luffy's ability to attract people and turn them into his allies the most dangerous ability in the ocean:
Later we learn, that it is CoC or more generally the qualities of the conqueror that allow him to do so:
The most common application we know, is simply knocking out those whose power level is far below the conqueror. Luffy instantly knocked out 50.000 people in fishman island, with Oda saying that either Shanks or Rayleigh would've knocked out all 100.000 of them. Instantly. No other ability can clear the field so fast.
Another pretty common ability of CoC is the ability to do physical damage. We got a taste of it when Shanks entered WB's ship and cracked it. Later we saw how WB and Shanks clashing shook the seas and made the sky split. A barely conscious Doflamingo coming to his senses, crushed a chunk of the mountain he was sticking at, and a clash of conqueror Haki's between Luffy and Katakuri made a part of the mirror world crumble.
Another ability that was implied, is the ability to control the weather and cause storms (@Shiroyru)
A 5 minute talk between WB and Shanks that became heated, quickly changed the weather from a sunny day to having the entire sky covered in thick thunderclouds.
5 minutes later as they get more serious in their talk:
Is this how Roger won the Ed war? By creating a storm that destroyed Shiki's fleet, while Roger came out of it just fine? Possible.
Just to sum it up:
- "Crazy" ambition for success, which comes with a much higher growth rate and will power
- The ability to attract people and make them into your allies (the most dangerous ability of all according to Mihawk)
- Physical damage to the surroundings and possibly even people
- Fodder control
- Possibly weather control
One can only imagine how that ability would work with someone like Roger, who had the greatest ambition and potential. Who rivaled the great Whitebeard. Maybe someone of Roger's caliber would have CoC of such greatness, that with will power alone he could suppress the opponents very DF, Haki and ambition to fight. Exert such massive physical damage with his will power it would crush the opponents body. Create massive storms to direct them at the opponent.
Obviously, the way Oda portrayed it, CoC will most likely end up as being one of the most powerful abilities when used by the strongest. I believe that, as Roger's and WB's base powers were equal, it what Roger's CoC that was a match to Whitebeard's Gura Gura no Mi (the strongest paramecia, hyped to destroy the world) and which made them equal. I am sure we will witness the full power of CoC through Luffy, when his DF ability will be rendered useless by Blackbeard, ending in a CoC vs. Gura fight yet again, same as with Roger vs. Whitebeard.
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