The Australian Open will start soon. It will be a while until 2023, but Djokovic will still be very keen to achieve a good result here. He was not allowed to participate in the last edition. I don't know what exactly has changed in the rules. Alcaraz is the number 1 in the world, but I don't see him as the top favorite for the title in Melbourne. Djokovic is placed 5th, but in his situation that does not say much. It is remarkable that Medvedev has dropped quite a few places in the world rankings, he can now be found in 7th place in the current rankings.
Based on the track record of Djokovic, anyone will easily say him to be the champion. This will gradually change, as more young players are making themselves better with time. The position keeps varying, but the gameplay improvement is the factor that decide the outcome of the match. A good list of players can be picked now, Alcaraz, Medvedev, Tsitsipas, Fritz, Zverev, Berrettini etc. When matches played between these players we can have the odds closer but we can't easily predict the outcome of the match.
You are right @safari88 and I think that even though Alcaraz is number one right now, he might not be able to win the next Australian Open. And she simply has been a little too inconsistent in recent times despite being the number one player in tennis. I really wish that Novak Djokovic could play in the last edition. Due to the fact that he has not been able to play in the last edition of the Australian Open, he will be very much determined to prove that he is a serious contender to win the Australian Open this time around.
Yes, I have said that Alcaraz is not the hottest player entering the next Australian Open. But at the same time, we will have to remember why he is number one right now. He might not be the favorite to win the Australian Open, but he is also not very far away from that conversation as well.