Inter has been respected because they were runner up in the last season and they have an outstanding performance in their domestic league recently. So Inter will become a strong contender in this season.
In terms of consistency, Real Madrid is more consistent among other teams. I'm not referring to consistent for owning the most UCL's trophy, but the recent performance in domestic league.
Last season, Inter Milan success lead until final before beating by Manchester City but their final round achievement depend on easily drawing match from 16 round until final. Inter Milan face not really strong opponent teams such as Manchester City manage to final after defeating Bayern Munich on quarter final and eliminated Real Madrid in the semifinal match. I don't sure if Inter Milan have the same drawing such as Manchester City have to face strong teams they will get difficult for qualifying to final.
Inter Milan have difficult opponent team on 16 round against Atletico Madrid, failed to finish on top position standings they have face top teams who finish on first position in group stage, I doubt with Inter Milan can repeat their achievement last season in Champion League lead until final round because on first knock out round have to face with strong team.