One Piece's last few chapters saw the fight between Luffy and Kaido finally come to a conclusion as the newly awakened Devil Fruit powers of former, along with the power of advanced Conqueror's Haki and Ryuo helped him push the Yonko to his absolute limit and seemingly crush him. Luffy's Bajrang Gun proved to be incredibly powerful as it sent Kaido crashing down through the ground all the way to the deep abyss of Wano, straight into a pool of magma, where he joined Big Mom as well.
Kaido also lost consciousness due to Luffy's ferocious attack and slowly transformed back from his dragon form into his human form, as seen in the previous chapter of the story. However, the question remains, is Kaido down for good? Certain fans of the series believe that Kaido has more to offer to the plot of Wano, while others feel as if his flashback was incomplete and needs further exposition before his story is dealt with for good.
Can Kaido Get Back Up To Fight Luffy?
Luffy and Kaido's fight has been raging on for quite a long time now. Starting in the 1000th chapter of the story, the fight concluded in One Piece's1049th chapter when Luffy finally landed his almighty Bajrang Gun on him and wrapped it up. Oda intricately dealt with the entire fight and delivered important exposition on things such as Joyboy, Nika, the Gomu Gomu no Mi, Haki, and even Devil Fruit awakenings throughout the fight. For every major Luffy fight in the story, Oda usually follows a pattern that sees him defeated a few times before he actually manages to take his enemy down. This was seen with the likes of Crocodile, where Luffy needed to fight him 3 times to finally defeat him, and then even against Enel, where his best certainly wasn't enough to take him down on his first attempt. Luffy's fight against Kaido is rather similar as it saw him get defeated in Kuri once to learn Haki, and then, on the rooftop of Onigashima, he got defeated two more times before finally engaging the Yonko in the ultimate battle.
A similar case cannot be made for Kaido, who is already at the pinnacle of his ability. Kaido certainly isn't an up-and-coming pirate who is yet to tap into his true powers. He's built his strength up for years and become what is known to be the strongest character alive in the story right now. As such, a case for Kaido getting up again and awakening new powers wouldn't make sense. When Luffy defeated Crocodile, fans didn't see him awaken new powers and return, and neither did any other major villain that Luffy fought.
Some argue that Kaido is yet to show his awakening and that it is rather weird that he hasn't displayed this power. While there certainly is truth to that, Oda simply didn't incorporate this idea into the fight against Luffy or simply chose not to name them as such. Every Mythical Zoan Devil Fruit grants two forms to the user but for Kaido, that doesn't hold true. The Yonko has an abundance of forms that goes to show the absolute control he had over his powers. At his very peak, he could even turn into a giant flaming dragon that could vaporize islands. For him, not having a named Devil Fruit awakening doesn't matter all that much as his powers already go beyond regular Devil Fruit abilities and more.
Oda's Formula For The Fire Festival
Another big reason as to why Kaido is most likely not going to get back up to fight Luffy is simply because of how Oda has written the fight on Onigashima so far amidst the Fire Festival. Before the war even began, Oda established that the Fire Festival was going to be the one night that the citizens of Wano are free. With that, it was made pretty clear that the night or the Fire Festival was going to be a do-or-die event for the alliance and failure was, in no way tolerable.
Luffy and his alliance slowly chinked at Kaido's forces and even took down the strongest members of the crew. While a lot of people believed that the likes of Kaido and Big Mom wouldn't go down, their fall became more and more likely as the arc went on. When it comes to Kaido and Orochi, Oda chose to pay special attention to the way he dealt with the finale. As the two fell, fans saw the Fire Festival come to a close slowly. The moment Orochi got his head chopped off by Denjiro, fans saw a Sky Boat with a wish to get rid of him by the people of Wano, indicating that the prayer was finally answered.
Similarly, just as Luffy defeated Kaido, a Sky Boat with a wish that read "beat the scary dragon" appeared and Kaido's defeat followed immediately after. With that, Oda is clearly establishing that the prayers of the people of Wano are finally being answered thanks to Luffy and that they're now going to be free. With this pattern established, it is highly unlikely for Oda to backtrack now and have Kaido get up once again. The Fire Festival is already over and the wishes of the people have already been answered. Kaido rising again would make all that established plot points lose their core value and be much worse for the arc.
The people of Wano have already tasted freedom and the new Shogun of the land is announced as well. What's more, Luffy has been declared the victor and Onigashima has also stopped in its tracks. Kaido's crew has fallen, as have his allies. There is absolutely no reason for him to get back up once again. In fact, before Kaido was knocked out, he himself realized that Luffy was Joy Boy and the man who would defeat him. As such, Kaido is already down for good and fans need not worry about him getting up again.