You are coming the Angle I am seeing it from. PSG might not be able to defend the champions league but they will definitely get to the round 8.
I think Liverpool will be more powerful this season. They will likely get to the finals this time. They could not get to the finals last season because of lack of a proper striker. With Wirzt and the type of Isak on the view, they'll succeed this time.
We will see how it goes.
Sometimes it's not all about a “proper striker” but a balance within the team. Salah and company did a pretty impressive job, and they played as a single unit. If the big problem was the lack of a proper striker, then they wouldn't have registered success in the English Premier League as well.
In the UCL, they beat up most of the big teams, only to get thrown out by PSG. That's how tricky the UCl gets at times. You will have your team firing from all cylinders only to get thrown out by an underestimated team. Another classic example is Barcelona's journey in the UCL tournament.