PSG is still competent enough to compete for UCL. There are two main materials needed in order to create a recipe how to win UCL. You need unlimited money, then combine it with a proper coach. It doesn't matter how competitive UCL. As long as they have this, they can win UCL again.
The history has told us about almost all of clubs were ever winning UCL came from the rich clubs. You can't deny this as it's also recorded in Wikipedia.
Kinda weird when you're doubting PSG's competence to compete for the next season.
Unlimited money! Which team really has that? Even with a proper and accompanied with your unlimited money and no proper players you're heading nowhere in the competition and it's been proven over time. This same PSG is an example of it in the previous years. A big team can always win the competition without splashing lots of money on transfers if they have quality quality players and coach. Barcelona did it when they had lots of their academy players in the senior with few other signings, they didn't spend much to win it twice in three years.