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.
Real Madrid had a poor performance in the Champions League but that was in the beginning but later they came back brilliantly in the Champions League so now you can count on Real Madrid. If Real Madrid can't be trusted in the Champions League, I don't see any other team that I can trust more than Real Madrid. The teams that did well in the Champions League last season, we didn't see good performances from the teams at the start of this season and we felt that this season might be a bit of a mess. However, Real Madrid returns to good performance and still shows the hope of Madrid fans. I am only worried about whether Manchester City or Bayern Munich will be able to perform in the Champions League like they did last season.
Real Madrid is still doing poorly in the Champions League, I have observed Real Madrid's last three Champions League matches where they have won only one match. So maybe it would be wrong to say that they later bounced back brilliantly in the Champions League. Real Madrid have won the Champions League before so we thought they would go much further and perform much better this time, but they haven't been able to do that yet.
Manchester City are yet to strengthen themselves which is why they are still far behind in the Champions League, another team you mentioned Bayern Munich they are in a fairly good position in the UEFA Champions League. Yet this team is unable to win every match in the Champions League as they have in their domestic league.