Even though he lost, in Pereira's first MMA fight, he showed grappling prowess.
In this fight, you could tell Pereira's strategy was to "be rounded" ... which was a mistake.
Nowadays, Pereira strategy is just to keep the fight standing, where he has light years' advantage.
This is actually a hell of an exciting fight.
Pereira may have lost, but he showed a lot of grappling training, even in his debut.
I concur that people underestimate Pereira's grappling.
The truth is, because he is so good on his feet, it is more intelligent for him simply to "Avoid takedowns, get up (if taken down), keep the fight standing."
But if he was this dynamic on his FIRST MMA debut, 9 years ago, he must be really good by now. He is just not showing it, because he's dedicated to keeping everything on the feet.
Which puts him at an advantage over absolutely everyone.