I used to see it as a very strong evidence not only for base > Freeza, but for base > Kaioshin as well. But now I don't see it as that game changer.
Kaioshin didn't have the same amazement at SSJ2 Gohan's power, not even close, only remarking it's still more than he imagined:
He's pretty nonchalant at it, totally different from how he was when witnessing Vegeta's base power, who should be way, way weaker than Gohan SSJ2:
Kaioshin even went as far as to say he never dreamed they were this powerful:
So taking his reactions at face value, we'd have base Vegeta > SSJ2 Gohan, which just doesn't sound right. Therefore, I think other thing was influencing Kaioshit to react that way at base Vegeta, probably because Bejita defeated someone he overrated as hell, seeing how he said Babidi is known for gathering only strong warriors and wasn't sure of victory even after Gohan's display of power at the Budokai. His reactions towards SSJ2 Gohan was more natural I'd say and Kaioshin is just acting out of character in the spaceship due to how he fear Boo, so he's just being overly cautious, without probably even noticing it.
That's why I think Kaioshin shtting his pants at base Vegeta doesn't mean much in terms of power discussion.