I hope City still has the same level as Real Madrid. In fact, hopefully there are other teams that can become competitors at the same level in the UCL. Because if Pep decides to leave City and Haaland also leaves the club, it's like Madrid will really dominate the UCL.
I think not only Man City but there are some teams which have the same level with Real Madrid. Man City, Liverpool, Bayern Munich, Inter Milan, PSG, and Arsenal have the same level if we consider the squad quality. But if we consider the domination of those teams in the last few years, only Man City and Liverpool that can reach the final round quite often.
UCL final matchesIn the level of Real Madrid, I can only put Manchester city there and the other clubs will definitely be in the second tier. This is because to be generally successful, from home league to Europe, you need to have good squad depth. It is only Real Madrid and Manchester City that have good squad depth.
Secondly, I do not consider Liverpool as good contenders in this season's champions league. I'll rather place Arsenal above Liverpool. This is because of the change of Liverpool's head coach. It takes exceptionalism to immediately take up a job and start contesting. Although the new coach has time for preseason, let's see what happens.