of course they are, they represent the best team in Europe since they won the Euro, and I predicted that they were going to win it before it even started, even though I don't think they're the best in Europe, South America doesn't have a lot of good teams, It's only Brazil and Argentina and in my opinion they're better than Italy, just saying, I'm expecting one of them to win the world cup, this time is for Latin teams to shine, I'm guessing Brazil of course unless Argentina did a miracle.
Italy is surely one of the best soccer team in world but sadly now they are out of this event second time consistently which is the biggest shock for Italian soccer fans with this all can they win world cup or no surely all depend on if they were able to qualify in this even but right now it's no possible so no chance for them to win this event.
Currently, too much talk about who is going to win it's no easy as right now all top rank teams in good position with having some quality players but in last two decades Europeans are doing better than Latin Americans so here most chances same trend is doing to go because now quality is improving in Europe, and they are having few good teams which can win this event and take advantage.