No he isn't. Chael isn't a top 25 LHW and it will show quickly in this fight. It's a gimmick, it's not a competitive matchup.
To be fair, outside of Bonnar and Vitor for five seconds, who has really proven to be 'competitive' against Jones?
Vera, Shogun, Bader, Machida, Jackson, Vladmir, Hammill, and Evans all got outclassed badly. Even if he does lose, I'll bet Sonnen looks better than all of them.