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.
You will be surprised once the tournament starts 
It's no longer about who is big and who is not. In fact, last season should have taught most people a lesson. For example, how many people here thought that PSG would go all the way and lift it? I am quite sure they were very few, if not, none! If you recall very well, PSG had to even go for play-off in order to qualify for the next round.