This season, not only Real Madrid, Manchester City and Bayern Munich are the favorites, but Inter milan is certainly considered the strongest team this season. The performance of these 4 teams is quite good this season because they also performed quite impressively in the domestic league. Apart from that, there are many surprises that might happen this season because all teams are really focused on achieving the trophy.
I agree that Inter Milan also can be considered as the favorite team to reach the final round. However, it won't be easy to qualify for the next round because Inter Milan will play against Atletico Madrid. Although Inter Milan performed very well in Serie A, they can't underestimate Atletico Madrid because this team very often surprises us. They even ever reached the final of UCL with Real Madrid. So, it is not impossible if Atletico can beat Inter in the current round.
Sometimes the performance in domestic league won't impact very much on the UCL matches. That's why Inter Milan can't underestimate Atlletico Madrid although they are very struggling in La Liga for this season.
Meanwhile, for Bayern Munich, Tuchel is very ambitious to bring the UCL trophy home to the Bundesliga. In fact, Harry Kane performance has been very good with Bayern munich this season, of course he will be a player that opposing defenses will be very wary of this season. So, if you say that Manchester City is not performing well this season, of course that is a big mistake because Manchester city got additional strength after Kevin and Haaland recovered from the injuries they suffered.
After having Harry Kane, Bayern Munich looks stronger. I can understand if Tuchel really wants to win UCL trophy. But he must be aware that there are some big teams in UCL that also have ambitious coaches. Man City is also trying to win UCL in a row, they want to make e another record in UCL. Guardiola is the coach that very capable to achieve the dream. Moreover, Man City will play with full teams again after the injured players have recovered.