It makes sense, Chelsea quality is still below Liverpool, maybe when compared to Arsenal and Man City (when several key players are injured) it's a bit more balanced. It is necessary to improve the quality of the squad to compete for the championship because the EPL has several strong teams that always consistently maintain their best performance. Enzo Maresca still needs time to find a suitable formation, but since he was appointed head coach, Chelsea performance has improved.
Liverpool competed for Premier League title last season while Chelsea were in crisis and failed to end the last season in top four. This season, they both have new coaches but Slot has better legacy from Klopp than Maresca from Pochettino. They are playing well with their targets in this season, at its beginning, is to have a position in top four. I believe that Liverpool did not imagine that they could fight for Premier League title in this season, but with what they have now, a first position after almost one-third of season, they can start to think of the league trophy.
With Chelsea, things are good for them in this season and top four in the league at the season ending, is very possible and achievable for them too. Chelsea will need one or two more seasons, don't count this season, to become stronger and more competitive enough for fighting Premier League trophy with other competitors like Manchester City, Liverpool and Arsenal.
With the extension of Pep Gauridola contract, it is a sign that the Premier League will be even more exciting, because the coaches of each club such as Enzo Maresca, Arne Slot, Arteta and even Amorim will certainly be challenged to compete to the maximum. And for the time being Arne Slot has put Liverpool in an ideal position. Man City really doesn't want to lose Pep Guardiola because they know that only he can understand the club's needs.
Manchester City are smart and they don't want to separate with a coach who helped their club dominating Premeir League with 6 titles in last 7 seasons, and with one Champions League tittle, a first ever in their club history. Pep Guardiola will require more players from transfer market next summer season, to improve his squad and replace some old players. This contract betwen Manchester City and Pep Guardiola will make Premier League more exciting, as other clubs and coaches will have to break their own limits, to beat Manchester City and Pep Guardiola, and break their domination in the league.