While the new lore explicitly states that GP has a title now (that of self-proclaimed Pirate King) and gives the idea that GP is more of an admiral of a pirate armada instead of a 'First Amongst Equals' as captains - I think it's a major blow that his backstab-of-his-father got removed. While it is a minor point, it is another detail that's now up into the air as to whether it's canon or not now.
Also, while I do enjoy the idea that GP's pirate crew has spawned other notorious pirate crews that still pledge loyalty to him (kind of like One Piece) - I think it hurts the power when GP is really the only notable name given. Other captains or gang leaders are simply reference vaguely and just not described or even given names or their own history. This kind of weakens how fearsome the new GP seems, at least to the Pirate King level they're trying to convey.
See, this is called fluffing.
Let me give you a WWE (World Wrestling Entertainment) example:
Say new wrestler, Joe Schmoe comes and he wrestles Diggler. He beats Diggler. Okay, we know Joe Schmoe is stronger than Diggler.
Now Joe Schmoe comes in, and through some miracle he beats Roman Reigns. We know he's stronger than Reigns.
Then Joe Schmoe loses badly against John Cena. He can't SEE him. Joe isn't stronger than Cena.
So now we've established that while Joe Schmoe is powerful - we know he's not as powerful as John Cena. But it also establishes that Joe is pretty high/upper card tier.
GP doesn't have the same sort of fluff. We know he's a fearsome Pirate King because we are TOLD he's a fearsome pirate king. We aren't shown anything that implies others fear/respect/or pay tribute to him. Heck, it seems he's hostile to the other Bilgewater champs: MF, Fate, and Graves. And if these people can defy him - why the heck is anyone even following this guy around?
Narrative delenda est.
