I also think so, overall Real Madrid's performance this season is very inconsistent and also the matches in UCL cannot be underestimated especially overall the strength of RB Salzburg and Brest is not that bad this season so it is also possible for RB Salzburg and Brest to make a surprise when playing against Real Madrid later.
I think everything is possible in the remaining 2 UCL matches before the playoffs later and I think Real Madrid cannot be favored excessively.
Looking at Real Madrid's current performance I agree with you that we cannot favor Real Madrid in every match. Real Madrid is inconsistent this season but in La Liga their performance is not that bad. They are still consistent in the top ranking with only 2 defeats. But their performance is indeed inconsistent in UCL with 3 wins and 3 defeats. They are in 20th place in UCL and their position can be taken by any team in the ranking below them. The difference in points in the UCL standings is very thin with only 1 or 2 points. But if you look at Real Madrid's mentality I am sure they will qualify for the next round even through the playoffs. I think we have often seen Real Madrid make an extraordinary comeback like in the match against Valencia.