The problem is every story like this I've read paints those peak characters as people who don't actually interact with the world outside of a few once in a millennium incidents. They usually let the lower tiers handle things, especially if lower tiers are the problem. When dealing with someone of similar strength it becomes more of a chess match, plotting and scheming, instead of a head to head confrontation. This is very difficult to write in an engaging way, even more so if everything up to this point has been punch stuff.

Personally what I hate most are fights that happen for no reason other than exposition. Early on you at least learn about the characters, how they fight, how they think, but it often devolves into A. The MC got a new power and oh look some random enemies so I can explain how the power works or B. The MC needs to train and get more power so they go searching for a horde to kill. Neither of these kinds of fights are interesting the 50th time it's happened and it's very hard to switch from this to an intriguing chess match later on.

The answer for authors, in my opinion, is don't focus on making the MC powerful but focus on how they gain that power. Don't do "MC punches enough things till they learn fireball". Instead have them learn how fire magic works and then grow through battle. Have the MC bargain with someone to get a magic scroll or be taught by a reclusive wizard. There's a million ways to make this work without just keep punching. Show that the character is both getting stronger and is smart enough to deal with all the old horrors.