Yeah quite random here. PSG just knocked Atletico Madrid by 4 goals to nothing then was defeated by Botafogo. I know it is the best team in Brazil in the past season but right now they don't seem the top there and La Liga and European league in general supposed to be better especially for the team who left the UEFA Champions League title few weeks ago.
Anyway South American teams should be considered equal from what I see and avoid betting against them at least.
PSG won a first UEFA Champions League title in history after destroying Inter Milan convincinglý in the final match. That big win against a very strong competitor shows PSG strength but they are still building and growing up, so their performances are not too consistent yet.
It does not make PSG weak or too weak and only give them signals that they still need more development in order to defend their Champions League title or want to win it again next several seasons.
Anyway, result in their match with Botafogo is actually surprising and shocked with many people as PSG fans or people who are not their club fans.