It would be mystogan vs laxus all over again. I believe it would look more favorable for Jellal compared to how Erza was portrayed vs Laxus (falling first and then being carried around by Laxus who awoke first). So maybe it is more balanced like Erza vs Erza.
On paper even with all Laxus' attention Jellal looks better due to bind snake snagging Erza who tied with Laxus. Fairy Law would be a possible hax answer but Laxus considering Jellal a friend is also a factor. In character Fairy Law can't work on Jellal, Erza, Mira, Gildarts, Natsu, Gray, Jura.... etc.
Anime/Manga fans have an obsession with speed and I blame Naruto for this lol so Jellal moving at the speed of light also makes him faster and if we go by western fandom logic the faster guy wins because blitzing someone and one shotting is easy if you're faster, apparently lol.
These 2 are equals in Mashima's eyes and it's clear to see. They were both spriggan level in Alvarez, both were able to match and beat Jura who was a Wizard saint which proved Laxus, like Jellal was WS tier and Jellal is a substitute for Mystogan story wise and that was Laxus' rival. Now Jellal beat prime God Serena who is someone Gildarts wanted to fight and Laxus beat Kirin who was compared to Gildarts power wise. Laxus and Jellal almost fought 2 times in 100 years quest but never delievered. It's as if Mashima knows it's a fight the fans want and an extreme diff struggle so he portrays it this way. Natsu said the strongest are in the middle city to Laxus or Mira or Jellal and after Mira and Makarov etcwere out Lucy said speaking of tough opponents Laxus and Jellal remain. It's always them mentioned or treated similarly.