I don’t think Chelsea are a big threat despite their squad numbers, I have a weird belief that not all the players Chelsea have signed this summer will remain fit and in consistent form throughout the season. Already they have lost Cole palmer and Delap to injuries which leaves them unbalanced in attack and more injuries will come.
You're right, Chelsea has been showing significant improvement in performance lately. The squad is no longer dependent on just a few players, as was the case last season, but has managed to develop a playing style and create good chemistry between players. That said, it must be acknowledged that there are concerns about player injuries, which could certainly affect the squad's performance on the field. The best that can be done is to minimize the effects of injuries by keeping the players healthy.