Nunes had a great first round. She knocked her down twice, controlled her on the ground and ended up expending too much energy cranking Pena's neck trying to get a submission. I was already worried that Pena successfully got under Nunes skin and she was trying to prove she is superior to Pena everywhere and there was nothing Pena could do. Pena looked terrified on the ground, but Nunes spent way too much energy in the 1st round.
Her cardio was shot in the 2nd round. Whether it is the old Nunes cardio back at 135 lbs or effects of COVID, she was completely checked out in 2nd round and had lost all energy. No matter how sloppy the punches were from Pena, if Nunes is checked out, none of her strikes are going to have an impact and the speed slowed down drastically. Her cardio is the main problem at 135 lbs. At 145 lbs, she has proven she could go for 10 rounds against Spencer. Whether she can fix it or not, that remains to be seen.
I have a feeling Pena would duck a rematch. Unless Dana White forces her (or it is in the contract), I think she is going to prefer fighting someone else.