Yes, 100%. If you look at the history of meetings between Real and Atletico in the Champions League, you might think that Real dominates, but from La Liga I have a subjective impression (because I support Real) that Atletico takes points from Real more often than vice versa. Real got an extremely inconvenient opponent for itself and when I look at the pairings (and potential paths to the semi-finals) of other clubs, I get irritated because Real, as always, has the most difficult path.
The match between Real Madrid vs Atletico Madrid will not be easy or possible for any team to dominate. Both teams have equal chances of winning the match and the match will be very challenging for both teams. I cannot give any team a lead to win based on any statistics. Considering the recent form, both the teams are almost in the same position. The bad news for Real Madrid is their weak defense and on the other hand Atletico Madrid is very balanced. They may not have a strong attacking line to score big but their XI is balanced. On the other hand Real Madrid's attacking line covers their weak defense. We will have to wait for the game on the field to see how they will do against each other. It will not be possible to make any kind of prediction before the end of the game.