Ponting had about 6 great years
1999, 2000, 2003, 2004, 2005, 2006
Smith's similar
2014, 2015, 2016, 2017, 2019
Since the pitches became better, his numbers have fallen off. And since the 2019 Ashes, Smith is averaging 43 in the last 5 years...46 at home and 38 away.
stats.espncricinfo.com
So I see less reason to rank him above Ponting let alone a tier above. At best he is on par but he has played significantly less than Ponting, 60 less Tests at the moment. The more he plays and more representative his figures will become.
By 2026/2027, we might look back at Smith's last 7-8 years of his career and might say that he's struggled and averaging only 39 since 2019 Ashes. It will change our perception of him somewhat, similar to what most did here with regards to Ponting.
By 2009/10 people were still thinking Ponting was doing well (just not converting his numerous 50s 60s 70s) but opinions changed around 2011. And his rating has only gone down each year since then. In 2024 he is now a flat track bully who hardly faced good bowlers even though he started off against all the ATG bowlers that Tendulkar played.