Chelsea is not able to compete for EPL title now, but they are building a young squad that already showing its good competitiveness and improvement in two latest seasons. Chelsea as a rich club with no big financial trouble in buying star players, can build up a young competitive squad, then if they see need of having one or two world class star players to win titles, I believe they will not hesitate in spending big budget.
Chelsea can be very different in a next season or two seasons later, and they will compete strongly for EPL title very soon.
It is very true what you say, in fact for more than 4 seasons Chelsea have been in that situation of stopping the great roll they have had of not being Able to do things well, nor qualify for a high level competition, now they can fight for a place in the UCL, and this is already a great gain, taking advantage of City's bad moment, that Liverpool and Arsenal are fighting to win the PL, but it would be a good victory for Chelsea to be in the UCL and be protagonists, that is what I would most like this team to demonstrate, that they go back to being like before.
I also look forward to how Chelsea can enter UCL for a long time waiting, but if we look at the English Premier League, Man City is much better now they do a little self -improvement and they have not died fully so that they can enter what happens as what is done Man United, the previous defeat of Man City, made Chelsea eliminated from the UCL nomination zone.
We have to watch it much longer, as long as we can conquer Newcastle United, it is likely to be far greater to enter the Champions League, very proudly to wait for the Blues to enter the Champions League.