Definitely. But I’d go further. In the Making of ROTJ, Lucas says that Yoda is a teacher, and that is what the moniker ‘Jedi Master’ implies, as opposed to ‘Jedi Knight’. The terms do not denote power level, but rather specialization. Yoda would never intentionally engage an enemy in battle, because his role is purely to instruct. I imagine Yoda and most Jedi practitioners as pacifists, using the Force for knowledge and defense, never for attack.
Similarly, Palpatine’s role is as a manipulator, subtly influencing people’s minds and actions to suit his ends. Shooting lightning at a Jedi opponent is clearly a last resort, used after every other puppet and mental trick has been exhausted.
Who would win in a fight? Yoda. We already saw that play out across the battlefield of the Original Trilogy, with Yoda and the Emperor using their greatest weapons (Luke and Vader, respectively) and their preferred techniques (teaching and manipulation, respectively). Stripping away their weapons and comparing their base power levels strips the characters of everything that makes them interesting.