Don"say Real is weaker .Did you see Asensio how he was playing against Croatia
Real still has great team and best midfielders of the world
I see nice wins Liverpool against PSG and battle between PSG and Napoli for second place
If Buffon wants to win CL that PSG was not best decision
Let's be realistical here. Real Madrid are a great team but losing one of the best players in the world is a huge blow for them regardless of how great the rest of your team is.
I don't think anyone will be underestimating Real Madrid especially in Champions League, yes Ronaldo is gone but they're playing really well without him. If you see Bale and Benzema are scoring goals left and right, in fact they look very strong to me. The match against Liverpool vs Psg is more likely to billed Neymar Vs Salah, this shall be an epic match, and both teams can score many goals.
Real Madrid drew their last game, but as I said above they're far from a one-man team but Ronaldo is definitely the sort of player any team will miss and is that guy that you can rely on to give you that something extra.
Liverpool vs PSG should be great match. I'd love to see Liverpool play Real again at some point and Real vs Juve would also be great.