the only time in the both fights did i think Aldo had a chance was the first fight when he landed that huge uppercut at flying knee on Holloway.
everything else, Aldo doesn't really hit him with that much power, because of 2 reasons. Max is taller than Aldo so Aldo has to punch UP. Max knows his distance really well and a lot of the punches that look like they land flush aren't landing with barely any power because Aldo is overextending himself on a lot of his punches trying to make up that height and reach difference.
it's the same exact thing that happened to Conor vs Nate in the 1st fight. Conor was winning the first round easy, but you could tell that Conor had overextended too much on his punches and that he had expected to do much more damage and hurt Diaz more than he apparently had.
another fight like that was Volkov/Werdum. Werdum was definitely winning the fight easily, but you could tell that he was having to do too much to stay on top, he was having to work more than he wanted to, just to keep Volkov honest. then he gassed himself out and Volkov saw his opportunity.