No room for underestimating zones here. Italian teams have been underrated over the years and we can remember vividly how Inter Milan knocked out almighty formed Barcelona out of the UEFA Champions League and we had to see the competitive strength of this particular club. Surprises will always come either from Seria A teams, La Liga teams or the EPL. These clubs put in much more efforts to accumulate a win and they will always come for the big win.
All teams have an equal chance to compete for the title, but looking at the quality of the players in each team reveals the quality of the team's competitiveness. Inter Milan has been quite good at eliminating some strong teams, but they have always failed to reach the championship final. This season, I see the Premier League representatives as having a better chance, although I'm not discounting Bayern Munich, Real Madrid, Barcelona, or PSG. Anything can happen, as football sometimes goes unpredictably.
The champions League competition is a very important title for all the clubs but it takes the team with the best performance and good quality players to compete and win the trophy but recently the performance of Inter Milan has been good especially during their qualification as they have defeated big teams but their inability to win the champions League has been the reason why most people think they aren't good enough. The EPL teams appear to be very good and promising this season but it will take time to know if they will perform well in the champions League.
The other big teams are not forgotten also they have the quality players to get to the finals but the ability of the teams to progress to the finals will determine who wins the competition.