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.
Anyway, Arsenal are going to thrash PSG next week. Home Win, Away Thrashing! The only threat to Arsenal will be Barcelona. If Inter manages to neutralize them, we will have an easy final.