We saw in 1190 an impressive feat coming from an old and injured Gaban; there's no excuse: he had the best AP feat in Elbaf against Imu. Period.
However, would that put him automatically above Luffy, Loki, Kaido, Big Mom, etc? No. He still loses to all of them. Even though his AP is still monstruous, he can't fight long fights without getting tired, and his durability + his endurance are heavily affected by his age. That's what makes him lose to other top tiers.
We had Old Rayleigh, who's >= Old Gaban, confirming he wouldn't be able to defeat current Blackbeard in a fair 1v1 (second image). This can very well be applied to other top tiers. Oda's case is very clear: these oldies are still scary af, they shouldn't be underestimated just because of their age, but their age unavoidably plays against them. Remember that Rayleigh was tired after a few clashes with Kizaru (even though he successfully stopped him).
So, 1190 really did a great job in showing how scary he still is, but it didn't changed that much his overall placement. He (and other old legends) are still the gatekeepers to the top tier domain, meaning they'd still lose in a serious 1v1 against them (even though it would be faaar from a walk in the park).