You make a fair overall point re Khabib, but I had a couple of thoughts in response to some of the statements in your post so I thought I would address them individually.
It's not exactly like no one cares... of course the majority will give fair due respect to Stipe for his achievements. It's just whether you consider his achievements to be on par with a certain more commonly referenced Russian heavyweight... After all, regardless of your stance on the Fedor debate you have to admit the last emperor still overshadows the division to a certain extent even in this day and age.
If you dig down into the basis of your original question, it's kind of irrelevant whether Bones is able to fight or not. You're asking who is the most dangerous fighter in the world... and I think there's a very strong case that JBJ is the correct answer, regardless of his official eligibility.
Given your valid acknowledgement of Conor's total domination over Alvarez, I struggle to understand why the fact he lost to a larger opponent on 7 days notice a year prior to this fight is relevant at all? Especially given the fact he went on to avenge that loss in dominant fashion within 5 months... In my opinion, the 'lost to a gatekeeper' comment holds no weight. It would've been much more relevant to mention his inactivity.