Yes, the Europa League now has teams no worse off than the Champions League. A lot of people think that Barcelona will definitely play in the final, but I think they can't handle the busy schedule of La Liga at home, where they also have to fight for first place and the Europa League. Barcelona are in good shape, but I don't think they are ready to work hard yet.
Never say that to Barcelona fans because it is very possible for them to take your assumptions about the busy schedule at Laliga as bulshit. I think all the teams will be same busy in the league including the teams playing in the Champions League. If they don't lose focus on any of the competitions then I don't think they will miss their chance. So never underestimate anyone and how they struggle to overcome problems to be the best.
For example Arsenal, they will also be very busy maintaining their position in the Premier League. Manchester United are busy trying to get into the top 4. Juventus are busy trying to stay in the top 4 and all the teams competing in the Europa League have other competitions that are just as busy. So it's not only about Barcelona.