I think your view on this is pretty accurate. Ali was the greater fighter as well, and one could choose to compare Ali with JJ Walcott.
I think Nortons size would eventually wear JJW down. Jersey Joe wasn't a knockout artist, so Kenny wouldn't have to be extra cautious.
I believe Norton would befuddle Walcott as he did Ali. Walcott relied upon establishing his jab but here Norton would dominate. Both were a bit chinny but Norton has the edge in power here. Walcott’s advantage is his boxing ability but being outjabbed reduces this advantage. Fight is competitive early with Norton’s jab becoming more of a problem for Walcott as the rounds advance. At some point mid fight Norton lands a crushing overhand right that eventually leads to a stoppage. Norton by tko in 10 rounds.
Is this really the conventional wisdom on Walcott? In the fights I've seen, Walcott seemed a lot more interested in trying to counter jabs than in trying to establish any kind of dominance with his own jab.