Let's see where this is heading. After this chapter, Katakuri's advantage is shrinking but is still large
devil fruit powers: awakening gives Katakuri so many ways to use his mochi powers that Luffy cannot match
Haki:
a) armament: in G4, Luffy can break Katakuri's CoA, but he needs to land a hit
b) observation: Katakuri's mastering of CoO is at a whole different level. Luffy will have a very difficult time hitting him, unless he loses focus
c) conqueror: ???Now there are three things that may happen:
Luffy awakens his devil fruit.
Frankly I'm not looking forward to this development: sure it's going to happen sooner or later, but it doesn't look like awakening can give the sort of boost Luffy needs to beat his opponentLuffy's CoO becomes at least as good as Katakuri's.
This is even worse. No way he can match Katakuri at his specialty mid-fight: not even Bigmom has the ability to see the future!Luffy will win through an unexpected development of his CoC.
This is something I'd want to see! Right now, conqueror's haki has only been used to dispose of fodder, but it is implied it goes much farther than that.
Being an ability that cannot be achieved through experience or training (or even by eating a magical fruit…), it is rare and expected to exceed anything else we've seen so far.
Can Luffy beat Katakuri's specialty (CoO) by means of his own specialty (CoC)? I'm sure he can!
I'm not worried if any of the above happen, actually. I would think Luffy the type to try out CoO since Dogtooth told him how he could use it. (You just need to be calm and focus) I am not sure if he has an idea on how to improve his CoC. I'd prefer Luffy to use the same ability as Dogtooth, actually.