Here are the winning chance of each team to become a champion in the next season:
60% for Real Madrid
39% for Manchester City
1% for Arsenal, Inter, Milan, Barcelona, PSG, Bayern Munich, Leverkusen etc.

Real Madrid without Mbappe can still become a champion in this season, so it's no doubt majority of people will believe in Real Madrid.
I remember when @ Helena Yu made this post at the end of last season, stating clearly teams who would possibly win the champions league this season and those who has the poorest chances in percentage rating.. The teams with the high percentage are all out, while the teams with just 1% chance of winning the champions league according to him are the ones that has progressed to the semi-finals..
That's football. You see this round leather object called football is really difficult to predict.. Full of surprises and ups and down. I love what Arsenal has done. It's a record night for them. And for all other teams that has progressed, Congratulations to them and we hope for more actions as the league progresses. Football at its best..