No he isn't. Wally West, despite all the silly things battles forums and death battle videos will tell you, will never be considered more powerful than Superman or Wonder Woman or, typically, any GL. Or likely Martian Manhunter.
And it's less about the extra powers and more about Wally FINALLY being tied into Doctor Manhattan, the predication of his return in DCUniverse Rebirth. But that plotline was thrown away and now he's just kind of part of Metal as a make up. It's not about the powers, it's about the story.