Surely many will favor Real Madrid in this match. Because everyone also realizes that Chelsea is really getting worse at the moment. Even Lampard has not been able to get good enough results for Chelsea after he became coach at Chelsea until the end of the season. But I don't think Chelsea will let this game go easy for Real Madrid. Chelsea, as the host, also did not want to disappoint their supporters again. so Chelsea's motivation in this match should really be very high.
Well, however Real Madrid must remain vigilant with all possibilities. Because this match is Chelsea's last match in the Champions League, that way they will do anything even if they have to play quite hard. Nothing is impossible, although I remain optimistic and on the path of Real Madrid. Especially after having 2 points in Leg 1 of course for Madrid, this match will continue to play as usual to optimize the goals as best as possible.
You are entirely right, just because someone was a successful player it doesn't mean he is also a successful coach however there are many coaches who were successful players before and Zidane is one good example of it. But Lampard is not really a successful coach and he didn't reach any achievements yet.
Regardless of that, I think no matter if Lampard is coaching Chslea or another person because Chslea is not in a situation to bear Real Madrid.
Lampard arrival in such a short time to target the Champions League is clearly very difficult. He is required to manage a team that has to be ready against a stable club like Real Madrid, so the results will be quite bad. It is evident that Lampard is still trying various strategies, while Madrid already has a plan that is quite far from Ancelotti.