As long as Man City can continue to consistently win, or at least only draw from their strong rivals, yes City's chance to defend the EPL title for the umpteenth time remains big. Moreover, they are still with the same squad, the same coach, and the strength that may be even greater and consistent because they learned from last season's experience. The biggest challenge and they are targeting is to win the UCL, because last season it was taken over by their fierce rival, Real Madrid.
If you look at some of the results of the matches that have taken place, Man City got a very promising victory in two matches and this is a big threat to other teams who want to win the English league title this season.
Man City is still the favorite to win because they still look so strong so far and if Man City is able to maintain consistency like last season then it will be much easier for them to retain the English League title.
But if we talk about the Champions League it will be much more difficult because there it is not only about the quality of the players and coaches, it could be that experience and opportunities are reasons that really need to be seen more broadly.