He's definitely got the chance to beat Jones, as evidenced by the first fight. But, that doesn't mean he's on his level.
Jones didn't lose vs DC, he beat him twice. Jones hasn't been beat - Gus has so multiple times.
Would Gus be on Jones' level even if he beat him in a rematch? No. It would take more than that. Gus hasn't shown, a single time, that he's got what it takes to take the next step.
Delusional, that doesn't make any sense. If Gus beats Jones, he's certainly AT LEAST on his level. First of all, Jones has very likely been cheating his entire career, post USADA he's 1-0-1 and in his only win, against OSP, he didn't looked very good. Terrible, some would say.
You are talking like Gus clearly lost to DC, when that's not true either, it was very close, and it was Gus who had DC very hurt and almost finished him, a second fight could be different, for sure. Let's not forget Jones didn't finished DC in the first fight too.
The Davis loss is there, sure, but that was a totally different Gus, who improved a lot since.
Rumble loss? Happened, but no one knows how much that headbutt affected the fight.
At the end of the day, that fights will decide it. Does Gus have what it takes to be considered a championship-level fighter? If he wins, he absolutely does. Period.