I think they know they are not a contender this season. They may aim at top four which is still very hard to finish for Chelsea. This season Manchester City is better, Arsenal is better, Liverpool is again a contender, there is also Tottenham and Manchester United so Chelsea may not see top places. They may save some money and be prepared for next season for the championship. It's impossible for them to win anything this year.
i doubt with Chelsea can finish on top fourth position standing in this season depending with many player as their transfer target failed to get, but still have new recruitment with Koulibaly and Raheem Sterling could give strong reason for Chelsea get their top fourth position standing on Primer League. How ever window transfer still open long and Chelsea have time preparing for next transfer player, actually after leaving by Roman Abramovich many player not really interested to play for Chelsea.
Next Primer League season I think Manchester City, Liverpool, Arsenal and Tottenham Hotspur are list and candidate can finish on top fourth but depending how long keep consistent actually with Arsenal, not really consistent when Primer League almost ended make them failed reach top fourth position standing last season.