Next season, Liverpool are participating in the Europa League despite not playing the Champions League, meaning they have a chance to win the Europa League trophy for the first time. Even if Liverpool competes with Manchester City to win the EPL title, Liverpool may not be able to compete with Manchester City.
Manchester City won the Champions League title alongside the League title last season, meaning they had an equal focus on both titles. Next season too, they may have the same target to win the Premier League title as well as do well in the Champions League. In terms of strength, Liverpool will be far behind Manchester City in terms of winning the Premier League title.
I know that Liverpool are playing in the Europa league, but do not think that they are going to prioritize that trophy, for a big club like Liverpool, playing in the Europa League is a disappointment, the best thing about the Europa League is that it gives the winner a CL ticket for the following season, but Liverpool would want to qualify for the CL through the EPL.
Having said that, of course City remain the strongest team in England, but they will face very strong competition for the title next season, though they are still favorites, the dominance of City in England is definitely becoming scary for the other teams, and they'll not want City to win the league next season, but to stop them they have to do it on the pitch, which is so difficult.