The Nuggets will likely be the favorite to win the championship next season, but I believe other teams will also improve due to the upcoming trades. You know what I'm saying. At least the new season will be more competitive since the team that won the championship this year is not a super team, unlike in the past when the Warriors and the Cavaliers won their respective championships.
If the Nuggets can really do that then there will be no doubt that this era is for them and since they are impossible to beat when they're all healthy, the other teams will surely have some major adjust about their rosters, especially the way their play in order to have high chance to beat Nuggets if ever they will gonna play in the NBA playoffs or in the finals because that's when they are deadly both in their offense and defense. Since we will see some new rookies next season, I think for the Nuggets to stay at the top will be one of their hardest challenges next season.
Most likely they will be the favorite, just like other defending champions. And as long as they are healthy in the beginning of the season and keeping with what they do this year like getting into the top 1 spot in the West, maybe they can duplicate their win and then we talk about dynasty.
But it's going to be very tough to win back to back in NBA right now. The team are almost balance and they always try to improved their lineup and getting good players are role and bench players too to complete their roster.