Buggy is kinda a solid choice, yeah he may not be strong but he literally meets the other requirements perfectly, actually has many territories under his flag and many subordinates so he has the charisma and the qualifications and the world thinks he's actually strong so yeah
As Luffy was fifth Yonko already as Law and Kid ver in alliance with him and both have small crew with no territory they don't qualify to be Yonko. Other possibilities are Mihawk, Boa and Buggy all 3 of them have territories but Mihawk doesn't have crew so he doesn't qualify, Boa and amazon Lily are in calm belt and as they are isolated they don't have big influence in the world and they don't qualify. Now Buggy is weak but he has one of biggest fleets in world and he has a lot of influence as it's know that he is "sworn brother" of Shanks and that he was in crew of Pirate King and he was board casting Marinford, his crew isn't only big but also very strong with probably 10 people on level of at least 3 commander as such he is most qualified to take empty space of Yonko. Have in mind that everything I said can be complete bs and that this is just my opinion.
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Ch. 1053