With a few games left means Everton have to win a few more games than the teams in the relegation zone at the moment. Actually, I'm sure they will be able to do that if you look at their quality. At least they will be able to survive in the League. This is huge pressure for all Everton officials. I think their chances are 50:50 because a team like Everton can spring a surprise and get good results at the end of the season.
Yeah Everton are in a difficult situation which has an impact on the player's mentality. Actually I doubt Everton can get through but as you said sometimes they can do the unexpected as they did at the end of last year, this is not over. Also this punishment is not final and Everton can still make some efforts to avoid it, the latest news I heard was Everton asking for an appeal. Luton Town, who are in 18th place certainly think this is good news because it will impact their position automatically their position will rise to 16th or 15th.
By the way, Everton have 17 matches remaining and if calculated there will be 51 points to collect it's just that Everton won't be able to win all the matches but if Everton can win 8-9 games maybe they will be safe for next season, last season Everton collected 36 points and finished in 17th place so Everton should be able to do it again this season, they have no other way but to fight until the end of the season if the punishment is applied.
Everton which was having impressive start of this season having troubling time as they face cut of 10 points which bring them down in relegation zone but their spirited play and amazing fighting spirit bring them back into better spot but now as rumours are moving if we have another cut of points then surely we can expect this could be end of them in Premier League for the next season because currently they are already have 21 matches and 17 points which giving them some relief, but things can go worst which will be having no return path in remaining season if they are having another cut with they are already working on this all and hopefully now they will survive which will be good for them and their fans but in case of lost appeal 7 points from 21 games mean end of the world for them.