Here's something cooler to think about. Conor won the first round, technically he was winning more than that but that's beside the point. In a real "street fight" Conor would've knocked Nate out within 1 to 2 minutes tops. The shots he was landing, if he'd landed them with his bare fists, would've had Nate looking up at the sky. He would've very likely broken his hand(s) in the process but the job would've been done.
Street fights don't last longer than 5 minutes, and not even really anywhere near that long typically, especially when two fighers are professionals. A street fight is generally over in a minute and McGregor's haymakers would've starched Nate's chin without the gloves to prolong the contest. Would Conor have thrown them that hard in a street fight? Probably not, but he would've KO'ed Nate. No doubt about it.