The challenge this season is going to be between Chelsea and Manchester United: they are the best two teams of the league, the most well equipped to win the English Premier League. If I would have to bet today i would pick Chelsea as I do not think they will be able to win the Champions League again. But as for the EPL, they are certainly the best. They were good last year and now they are even better.
I have the same opinion as you, because in my opinion both teams have a pretty good squad to win the EPL title this season, and it can even be said that Chelsea and Manchester United are the strongest candidates this season, but of course anything can happen beyond our expectations as happened in the 2015-16 season when Leicester city won the EPL.
But for the champions league competition it seems this season will be more in favor of PSG in my opinion, because we know how serious they are in the transfer market this season and the only reason they spend a lot of money is to win the champions league this season.
It seems it's still too early for us to predict who will win this season, manch city, liverpool and also tottenham hotspur and even other teams in my opinion still have the same big chance as chelsea and manch united in winning the english league this season, and i I agree, like what you said, because in football anything can happen and I think mid-season is the right time to predict who will be the champions next season.