Idont know if he was holding back his physical strength or his df powers but it was clear that he wasnt taking anything seriously.He is hyped up very much and he ll probably be one of the main NW villains.I dont think we have seen even near his full power yet.I think the same goes about Boa and Mihawk.Those three didnt have many fights and they were the only ones to come out of this war unscathed.
but, i mean maybe he does not have a ton of raw power per say. i mean to me it felt like he was holding back as in not going crazy and creating a massacre. but i do not see him holding a ton of power back because he did use some power. i mean he held back joz and cut of a super giants leg off. i do not think his power lies in having a ton of raw power but i think it lies in how his power works and how dangerous it is. i don't think that he was holding much back but more like he was holding him selfs back from going nuts.