It's not only about physical power. Balrogs and dragons were mighty creatures, sure, both in body and will. But I don't think that's the key idea here. You can destroy all of Morgoth's troops on battlefield but lose the war, because you cannot destroy Morgoth. You need an equal for that: an Ainu.
Since Morgoth lost so much power a Maia was "enough". Likewise, an Elf and two Men were "enough" for Sauron in the late Second Age.
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You passed from under darkened dome, you enter now the secret land. - Take me to Finrod's fabled home!... ~ Finrod: The Rock Opera
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