GODREJ

this is the result of lacking reading comprehension, "because he lost to gear 5 luffy"?, no one is winning against gear 5 luffy in matter of strength or power contest, we have seen that against kaido and in egghead, same goes for prime garp, garps punches are going to do nothing to gear 5 since g5

is almost immune to blunt attacks, so u might think garp has greater conquerors haki so it might bypass luffys conquerors haki and hurt him wrong!, rayleigh clearly said the raw output of ur conquerors haki depends on ur will power, so with greater willpower comes greater conquerors haki, sure u might get new applications and become efficient in using adv conq haki if u train with it but still the raw output doesnt change, given that luffy and garp are from the same family their talent to haki is similiar too.

what makes you think kaido doesnt have it?, kaido clearly states that luffys use of conquerors haki is unrefined which proves that kaido has that next level of conquerors haki, if that isnt enough proof to you then the following statement by gorosei proves it i.e " we dont want to enrage kaido", they said this just like they said about shanks, if kaido dont have the ability to injure the gorosei then they have no reason to fear kaido, it makes no sense.

Next doubt you guys are gonna have is why kaido didnt use it against luffy, its simple i.e this new level of conquerors haki is effective against opponents who are immortal like gorosei and holy knights, we dont know whether its effective against mortal opponents.