I think it's wrong to talk about loss of reputation because they have been winning for the last few years, not just the EPL but the champions league too and it's impossible to lose reputation in one failed season. A trivial comparison is Manchester United. In their case yes they lost their reputation as soon as they started losing, in their failed season they were below 10th place for a long time, but Manchester City are doing quite well. There are problems, but they are solvable
I think a lot of peeps here don't like the transformation of Manchester City, how they came and won 4 Premier League and turn the league to farmers league, how their stars were making everyone go drooling and losing their own players and all of sudden change in their possession is why many people are also happy, seen a cross rotation of the league going to another club is what many people are anticipating, Manchester City has made the league looks so undervalued.
Nevertheless, what I have seen from Manchester City is incredible, even at their worst situation, the team hasn't left top 4, if they continue to this way they ar definitely going back to the Champions League and remain here till another season. I have this feeling there of big transformation, a big shuffle is going to happen by next season and that's when we are going to see new challenges from the team, there is nothing they can do this season again.