The first seasons were a charm for Arne Slot and Hansi Flick. I believe the season seasons will be harder for them as most of the focus on the tactics will be on them by the opponents. I say this because I have seen it happen before.
Defending the Champion's League is no easy thing, and PSG will face it rough as well. I am not sure how Real Madrid will perform under Xabi, but I think Manchester City will still be “not so scary”.
These big teams are working good for their improvement as they could be again at their top in upcoming season even few are having concerns about Real Madrid, but things could be on right for them as season will be started because Xabi Alonso is well aware about problems.
Liverpool is looking much better which will give them good advantage while PSG is also had good squad with Barcelona now have experience which will helps them for having better performance in coming season, and they could be able to work on their weakness which hurt them last season in semifinal. Bayern Munich is also one of the team which could be gone through for their best while Vincent Kompany is having good performance in first season which will also help them in coming season for having better results in Champions League.