As we know that the fire festival lanterns are now being released into the sky, and it appears we’re having another instance of Luffy being knocked out by Kaido like at the beginning of Wano.
When it first happened, Kaido mentioned that Luffy was still glaring at him via his spirit – before Luffy unconsciously used CoC to knock out fodder. What if that happens again, only this time it’s not only his CoC spirit that’s still active – but his Voice of All Things ability too.
What if as Luffy is knocked out the fire festival lanterns float into the sky – and Luffy unconsciously uses Voice of All Things to actually hear the wishes of the people of Wano?
These wishes will fuel his rage/spirit so much that he wakes up this time – and after Kaido has dealt with the CP0 member (likely crying about how he was robbed of another great battle, like his fight against Oden), much to his surprise he turns to see that Luffy is back up.
As much as Luffy has been saying he doesn’t want to hear about Kaido’s dreams because of how he’s made the people of Wano suffer, Luffy literally hearing those people’s dreams and how they want to live outside the Kaido/Orochi reign could be what pushes him past his current limits (whether it’s a Gear 5, awakening, further developing his haki beyond what even Kaido knows/has shown, etc) and gives him the opportunity he needs to win this battle.
I think people looking up at the lanterns will draw their attention to Onigashima and the battle going on. But I think it’d be poetic if it’s the people of Wano’s dreams written on those lanterns that gets Luffy back into the fight and enables him to beat Kaido.
It’s also what prompts them to look up and witness said defeat. It would truly be their victory then too – because Luffy wouldn’t win if not for them / their dreams (and his ability to hear them through Voice of All Things, of course).
Theory by theschulk51 (https://www.reddit.com/user/theschulk51)