Perhaps. Also this is from the 90s, IIRC. Granted, the accolade hasn't been retconned by anything with regards to prior Sith and Jedi, but it has been retconned by the Ones' accolades.
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That's irrelevant when there are characters comparable enough to Sidious to be in contention for that title. This accolade is, even in-universe, entirely speculatory and is by no means solid proof that Sidious is more powerful than everybody else before him. But of course the Sheevites love to ignore stuff like that.
Obviously Sidious isn't the most powerful being in the universe. Regardless, it's an accolade that most beings would simply never be credited with. You don't have to be a "Sheevite" to understand that.