With Real's current squad, I only appreciate their midfield and attack. As for the defense, which is a patchwork due to injuries, I'm worried about how they will perform in the near future if this transfer period they decide not to bring any central defender contracts.
Madrid is now in form and it now looks as if they have a better chance to win because for the past few weeks, they have been performing well and their attack is penetrating well and their defense as you said injuries have affected their defense system but even at that Madrid can not be underestimated, and currently in la liga Madrid is performing well so I don't see any reason to worry about them, and they don't even have any serious contenders in the champions league for now.
We can not only see what is happening now but overall that throughout this season the problems experienced by Real Madrid are in the defense line because several of their main players are injured, meaning that there are no players who are ready to maintain the stability of the team when this happens. player rotation and this is not only in the defense line but also applies to their front line, this was seen when Vini was injured.
Therefore, Real Madrid should be able to prepare the team to be more mature in facing a season that is still very long. In the L League, Real Madrid may not have serious opponents because their rivals are also in a downturn and will still not be in the Champin League.
I don't understand what you mean when you say Real Madrid doesn't have any serious competitors in the Champions League at the moment.
I think Real Madrid this season is not the strongest team and even their percentage of winning the title is smaller compared to other strong teams such as Manchester City and Bayern Munich.