It is undeniable that Bayern's statistics are still quite superior and it can be seen from their current position even though Bayern are still quite bad but we can see that PSG is still scattered in the lower standings at this time. But on the other hand for now in terms of strength, these two clubs are actually quite comparable and this can be used by PSG to reduce the probability because it is clear they lose in terms of favorites for now.
Bayern are still constrained by performance as well as PSG even though these two clubs can both dominate in domestic competitions but still for competitions in the Champions League are different things so they have to try more if they really want something good.
Talking about the mentality of these two clubs is actually also balanced because in the last few seasons at least they can always qualify for the last 16 phase even though they are always hampered in the quarter-finals so for now it is just a matter of seeing the quality of the players and the attack scheme carried out whether it will be an advantage for Bayern or PSG because their target is definitely 3 points.
PSG and Bayern Munich are both leading their domestic leagues. PSG is at the top of Ligue 1, where they are yet to be beaten, and Bayern Munich is leading in Bundesliga. But what is noticeable is that none of them has used their domestic success in demonstrating dominance in Champions League in this season. But then, it is considered to be a tougher competition. Because the level of pressure and the quality of opponents is higher. Therefore, superior performance in the domestic league does not always guarantee success in European competition.
And unfortunately they have to meet early. Since Bayern is at 17 in the Champions League standings and PSG sits at 25, for the winner to be, it's even very likely that loser will now be in a tougher spot, even possibly coming last. Both have some very talented players, but both need to start being more consistent in implementing their strategies to be able to compete more seriously in this tournament.
This season is full of surprises, because we see how the regular UCL teams really have difficulty getting tickets to the last 16.