You can't write off any of the CONMEBOL teams. Even the lowest ranking teams like Bolivia and Venezuela can destroy the top ranking teams from Asia or Africa. And regarding teams such as Chile and Colombia, they are not doing well recently. Only the top 3 (Brazil, Argentina, Uruguay) are performing consistently in long term. Now talking about Ecuador, they have performed exceptionally so far in this tournament. The only disappointment so far has been Paraguay. They are at the ninth place right now.