In terms of power and creativity with using their quirks, they are both pretty equal. Shoto had a pretty big quirk growth towards the end as did Bakugou, but Bakugou's felt a little more self distructive.
I think in terms of ranking Shoto will remain on top. Even fans of the show who know his inner thoughts are put off by his behavior, not just the bulling but the shouting. He will probably always remain quite high in rankings and have a dedicated group of followers, but he probably wont be able to reach number one. Hero rankings are partly a popularity contest.
I was convinced for the longest time that Bakugou is stronger, and he might have more stamina and determnation to win a VS fight with Shoto, but Shoto evolved too much with his fire quirk. I don't think we have seen his true strenght.
