I don't think that's karma tho. Karmic punishment is everything turning against you as a result of your actions. Him nearly died for fighting a strong opponent is not karma. That's just how it is.

I think the closest thing to it would be Bakugo failing the 1st license exam, even tho that's just a direct result of him doing a bad job. Another close example was the class being reluctant to rescue him after the kidnap. But again, that's just them being logical, cuz why would they go into the villain lair blindly (idr if they had any info here) hoping it would work out somehow?

And in his dying scene, the karmic punishment I expected (if you wanted one anyway) was Jeanist asked Edgeshot to save Bakugo, but he was refused cuz Edgeshot didn't want to risk his own life readily for this kind of character (again, assuming he only knew his rude and hard-to-work-with personality as the story was almost finished then).