I dunno man, I don't think it does. He's leading the league in home runs and has nearly 100 point OPS lead over Acuna and Freeman in 2nd and 3rd, 5th in OBP,
It's a versatility we haven't seen ever. Even Ruth never really did this, his peaks as a hitter and pitcher never lined up in the same way. Ruth pitched from age 19-24 and then abandoned pitching, and his age 23 (1918) season was the only year he was impressive on both sides of the ball. At 24 he had his big offensive breakout from 11 to 29 home runs, but that season he had declined a lot as a pitcher and was pretty much just league average and nothing special on the mound. Ohtani has been an ace and a franchise hitter at the same time for three years in a row, I know you're not trying to diminish it but I just wanted to point out that Ruth isn't even the precedent for this because he never did what Ohtani is doing right now as a two-way player.
I think it absolutely is in a sport with two defined offensive and defensive phases. Baseball is about scoring or preventing runs, and Ohtani this year is better than anyone in the world at scoring runs, and is also a frontline starter who's been a top 15 pitcher this year and was a legitimate ace last year throwing 100mph and being among the leaders in strikeouts. And meanwhile he's also leading in triples because he's crazy fast too. Being 95th percentile at basically everything is astonishingly impressive even if he's not 100th percentile at any one particular thing (although again, he is literally the single most productive hitter in baseball right now).
I fully agree that McDavid relative to other forwards or Mahomes relative to other QBs is a bigger gap than either side of Ohtani relative to competitors but I don't see why that matters. Ohtani doesn't need to be Barry Bonds crossed with Roger Clemens to be definitively more dominant than Gerrit Cole who doesn't hit or Ronald Acuna Jr. who doesn't pitch.