I wouldn't say that they are the kings, they won it last year but that doesn't mean that they will win it this year neither. It’s going to be a tough job but I believe that they are going to end up with a good run, yet fail at somewhere along quarter finals or even maybe semi-finals.
PSG and City are fighting for the title very carefully, they really need it and in order to make all these spending count for something the league titles are not enough anymore, they need to win something in UCL to keep this up, otherwise it would not make any sense at all. I personally believe either City or PSG will win it and finally have the happy ending they wanted.
For now Real Madrid remains the king of the CL until the season ends and a new king emerges in which so many predictions are on Man City and PSG. I will still add Xavi boys to the list because Xavi too is bent on lifting this trophy and sending it to Camp Nou. For now City, PSG, Barca and Real Madrid have equal chances of doing the needful to the CL title and the best strategy wins the trophy until then Real Madrid remains the king of the CL
It is very worthy of Real Madrid to be called the king of the Champions League competition, because Real Madrid has managed to get
14 Champions League trophies. And it is very possible this season Real Madrid will win the Champions League trophy again, if we see
Real Madrid's performance is very good this season. But as you said there are still Barcelona and Man City who can be serious contenders
for Real Madrid in the Champions League. But for PSG I'm not sure they can win the Champions League trophy. Although PSG have quite
a lot of star players, and achieved positive results in the Champions League in two games. I see PSG players don't have a good cooperation,
still looks selfish among PSG players. Especially for Mbappe and Neymar they are both still often seen playing selfishly. So my prediction is
that the farthest PSG will go in the Champions League is only reaching the semifinals.