obviously PSG are the favourites to win, but clearly Real Madrid need to realise this defeat and be able to rise again and become a much stronger team and return to winning ways. As for Chelsea, if they don't play a high-level match, I see it as difficult to beat a team that has won everything and is aiming to win this trophy too, and they will.
Real Madrid could get better if they realize their mistake. Now they are looking further into their defenders, and they are also looking into "ego" battle between Mbappe and Vini. Not because Vini and Mbappe hates each other or something like that, but both of them are not really great at going back on defense or pressing.
Xabi needs players that press, because that's how his system works, not too much hardcore Gegenpress, but at least have one guy on the ball at all times, when 2 of your players wait on the side for your team to get the ball and throw ahead to them, you are defending 2 people missing. This is the "ego" issue, because the ythink they are only there to score, when in fact, it's a team game that gets ruined when they do not play properly.