As long as Real Madrid doesn't have any problems like Barcelona is currently experiencing, they will continue to dominate every competition, including the Champions League. Real Madrid is the club with the most ambition to win every trophy, they will continue to improve the quality of their squad to dominate other clubs. Real Madrid success in winning the Champions League and La Liga trophies will probably continue next season; they are still strengthened by the players who won trophies this season. Mbappe arrival will also have a big influence on Real Madrid performance in the following season.
Several other clubs are experiencing internal problems which are causing their performance to decline slightly, Barcelona is experiencing financial problems, while Bayern Munich is adapting to a new coach who has minimal experience in European competitions. Only Manchester City is the toughest competitor for Real Madrid in the title race, Leverkusen may make a surprise next season with its increasing strength after bringing in new players in the transfer market.
Yes, I fully agree with you that Real Madrid will continue to dominate every competition with this their current form. They really have the quality players who can continue playing great football for them. At this moment, I have some confidence that the only team that will beat Real Madrid, unless luck is on their side, is their own team. I am aware there are some teams which are also in great form, but the truth is none have a complete squad like Real Madrid.They recently added Mbappe to the team to strengthen their performance again. I don't know what will actually happen next season, but if I am asked the favorite team to win the Champions League currently, I will say it is Real Madrid. I believe they will really work hard to achieve the Champions League title next season again.
No doubt Real Madrid has equipped the team in a way that they can defeat any opponent they play against but I think it is still possible for a team with a complete squad to underperform as we saw in the PSG team where they had Mbappe, Messi, Naymer and Ramos but still failed to win the Champions League trophy for the team.
Real Madrid will still have so many teams that will compete with them in the champions league but it is the performance of the team that will determine if the team will be able to dominate in the champions league.