So the new villain Moro has the hability of absorbing life energy around him, similar to the Genki Dama, but without needing the life forms to lend the energy to him, he just takes it from them. Does this mean Moro is capable of raising his power unlimitedly?
Based on the recent Manga Chapter, it has been established that Morro's true power isn't simply raw physical strength but more dependent on his magic.
We know this as Goku makes a comment after sensing Morro that his energy wasn't that big( Which was the case for some of the other strong fighters we've seen like Jiren and Broly
I would consider Morro to be a character similar to that of Hit. Just like Hit was much more deadly with his special assassination techniques in comparison to his raw strength, Morro is most likely deadly with his magic. So to answer your question, it might not necessarily raise only his physical strength. It might possibly allow him to improve his magic or raise its power or what not.