It's misleading.
From the front (not all-aspect), the MKI's RCS has reduced to 3-4m2 due to inlet treatment, so from one aspect it will look small when carrying missiles versus most other older aircraft when carrying AAMs and drop tanks. But there are two flaws, one is most other aircraft will drop their "drop" tanks before combat.
The second flaw is while the MKI's massive radar will allow quicker detection against aircraft with smaller radars, like the LCA and Eurocanards, the MKI's main threats are aircraft like the J-20 and J-16 with similar-sized radars.
If you take ACT out of the equation, then the MKI is competitive with pretty much any 4th gen jet even with its older avionics, including the J-16, it only needs a better BVR missile and even its current EW suite is pretty good. Even against aircraft like the Rafale and Typhoon, although it will be much more detectable on IRST, it can use its massive fuel loads to keep up with them even in the supersonic regime.
Bring ACT in, the MKI stands no chance, because HVT is referring to equal RCS, not lesser than. And the main MKI competitor very likely has an even smaller RCS than an ACT-capable Rafale today. The MKI is basically not competitive with what it's supposed to fight. So any other comparison is moot.
The Chinese can render EW suites useless as well, even they have IRST and IR missiles.
There is one and only one way to make the MKI relevant, and that's to very, very quickly introduce a survivable sensor that can reliably detect the J-20 from a tactically relevant distance, at least before the Taiwan war happens. It doesn't matter if it's a single radar type or a multistatic system, it doesn't have to be on the MKI either, but if it doesn't exist, then the MKI, even the MLU'd version, will be irrelevant.
Being as good as other 4th gen jets is irrelevant. The only question that needs answering is if the MKI can fight the J-20 and generate an acceptable kill ratio.