Allfather of Asgard or not, the MCU Odin isn't anywhere near as powerful as his comic book counterpart. In the comics, Odin's power is nothing less than magnificent. During one battle, he simultaneously fought Thanos and the Silver Surfer and won easily. When Annihilus proved too much for Thor and
a host of Asgard's champions, Odin banished the villain back to the Stygian Wasteland and said he could have killed Annihilus with only a thought. The Allfather's even gone head to head with Galactus. Odin has also temporarily granted Jane Foster immortality, merged all life on a planet into one being, and trapped the great Mother Storm in Mjolnir. Impressive, right?
Compared with the might of comic book Odin, MCU Odin pales in comparison. Of course, he's had a few acts of might. He defeated the Frost Giants when they invaded Earth and made Loki appear to be Asgardian. He had the power to banish Thor and kept Hela trapped in Hel thousands of years. When Asgard was without the Bifrost, he summoned Dark Energies to send Thor to Earth. However, it only took one of Loki's spells and render the Allfather completely powerless. When Odin finally broke free from Loki's spell, he stayed on earth and just died. Not exactly what we'd expect from the King of Asgard.