I wonder why not more people are looking to teams like Lazio. They had some bad games too, but still look far more stable than Manchester United in my opinion.
They are one of the favorites for sure.
Lazio and Athletic Bilbao are two of the strongest teams in the league. Manchester United and Tottenham didn't perform like them. In the end it's still in group stage so don't come to conclusions easily. As long as they advance to quarter final there will be no problem.
No absolutely no conclusions at this point and I would rather come up with 7-8 teams than just 2 teams that have good chances to win it. As you said United and Tottenham won't do much in the Premier League, I agree, but in these cup setups, there is so much more possible due to elimination. Like Manchester United playing 2-2 in the Premier League against Liverpool away from home. In the Europa League they would now have a home game and everything would be possible. The league can be an indicator, but it has been misleading in the past. I think it was Sevilla in 2021/22? When they played bad in La Liga and won the title and eliminated Manchester United and Arsenal if I recall correctly.