I'm not saying Barcelona won't be able to compete with Real Madrid, but as challengers they have to do better than Real Madrid who were defending champions last season. Here I will not underestimate Barcelona, but I still rely on Real Madrid to win the race.
Barcelona has done better than Real Madrid in the current transfer window. Although it can't guarantee anything, No doubt that Barcelona has improved their squad quality. With the current squad quality, I think Barcelona can be a stronger challenger for Real Madrid this season. It is very realistic that Barcelona has a chance to get a better achievement this season if we consider many quality players on Barcelona squad now.
I am aware that in the last two El Clasico meetings Real Madrid lost to Barcelona, but anyway I don't think it will be the same forever, even this season may change because competition and the desire to be the best is always present in these two teams.
Even if the last two El Classico can't determine the current strength of both teams, but it is a clear sign that Real Madrid is no longer superior to Barcelona. Barcelona has a more competitive squad now, Real Madrid can't underestimate Barcelona anymore.