I think Liverpool, Manchester City, and Bayern Munich are also very worthy of being considered title contenders this season. I also believe Real Madrid chances are equal to PSG, while Chelsea still seems to have to fight harder to prove their strength in the Champions League after suffering a severe setback in the last two seasons. This is just an initial assumption, and We recognize that a team bargaining power is greatly influenced by many factors. Like losing a key player to injury can change a team chances, and there are several other things that also have a significant impact.
Every big team as you mentioned, certainly has a chance to challenge for the title this season, but it depends on how the coach capitalizes on the opportunity. Real Madrid and PSG also have the same chance as Liverpool, Manchester City, and Bayern Munich, and we might see a surprise team reach the final, a team we hadn't considered at all. Conversely, injuries to some of their players could make it difficult for certain teams to compete in the Champions League.