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.
I agree with what you said. Madrid is the strongest team in the Champions League this season. This was really beyond my expectations because I thought they had lost a pure striker this season. Vini was truly able to perform extraordinary to replace Benzema's role as a striker. Overall they performed quite well in La Liga and the Champions League. I even think Madrid will win the La Liga and Champions League titles this season. Their only strongest rival in the Champions League is City if they are able to perform at their best with the return of KDB and Haaland.