Yes it's true what you say, this is the Premier League anything can happen here. Things that are considered impossible often become possible here. But the first thing we see in terms of who has the upper hand is the squad as a whole, the coaching staff, the players and so on. Manchester City have it all that can take them to the pinnacle of glory.
But in this case we also cannot rule out other teams. Even though Manchester City are so strong overall but at the moment they still have a strong contender and Liverpool are performing for that which makes them a contender in the table position.
I think it will be very good to see how they move in the next season. This season they fought until the very end which shows how strong and how determined these two clubs are. now they have advantages and disadvantages like Liverpool lost Mane and most likely City also lost Gabriel but there are Haaland and Nunez being the replacements now.