That's certainly true... I don't see Bayern as a favourite for the Champions League either, because there are plenty of other teams that can win... But for the Bundesliga I think they are better than Borussia Dortmund and other clubs... Somehow I have no doubt they will win the new season!
Especially after Lewandoski left Bayern Munich, wouldn't this decrease their performance a bit? Unless they get another new player who is totally worth it although this isn't easy.
To win the UCL in the next season is quite impossible for Bayern, many giant clubs from other leagues have more potential, especially Real Madrid and City. So at least they can defend their Bundesliga title.