For a keyboard to truly be smart, it needs to learn more about your typing patterns and recognize words even if you mistype them terribly.
The Text correction options in the Gboard settings are massive, so spend a little time here. The most useful ones are the contact names and personalized suggestions, as Google uses your account details to offer the words and names you need. Yes, enter the caveat about privacy, but you have to give a little data to get those smart services.
The only area I feel Gboard could get better in comparison to other keyboards is if you really jumble a word. Instead of adding more letters in hopes it will recognize it, you may be better off just deleting and starting over. Keep an eye on the autosuggestions to find out how to proceed.