To be fair even TNG started to weaken the Borg a bit. If you set up a bg bad and have our herores defatiung them every few weeks then why are they considered the big bad. Even DW has fallen fowl of this critisim with it's use of the Daleks (though on the plus side the Time Lords were one of the more powerful races)
They really only face them twice ship-to-ship: once when Q introduces them, then helps them get out of the jam, and once when they could have nearly destroyed earth if not for the fortuitous interference of the assimilated Jean-Luc. Minor encounters with Hugh and with the rogue Borg led by Lore don't seem to quite have the same oomph as a fight with an actual cube.
And Anwar, that's part of my problem. I don't really want anyone to match them, and if we do see such a match, it deflates the view that they are so unstoppable, especially if the way to defeat their opponent actually comes from Voyager personnel, IMHO.