Several other clubs are experiencing internal problems which are causing their performance to decline slightly, Barcelona is experiencing financial problems, while Bayern Munich is adapting to a new coach who has minimal experience in European competitions. Only Manchester City is the toughest competitor for Real Madrid in the title race, Leverkusen may make a surprise next season with its increasing strength after bringing in new players in the transfer market.
Yes, I fully agree with you that Real Madrid will continue to dominate every competition with this their current form. They really have the quality players who can continue playing great football for them. At this moment, I have some confidence that the only team that will beat Real Madrid, unless luck is on their side, is their own team. I am aware there are some teams which are also in great form, but the truth is none have a complete squad like Real Madrid.They recently added Mbappe to the team to strengthen their performance again. I don't know what will actually happen next season, but if I am asked the favorite team to win the Champions League currently, I will say it is Real Madrid. I believe they will really work hard to achieve the Champions League title next season again.
No doubt Real Madrid has equipped the team in a way that they can defeat any opponent they play against but I think it is still possible for a team with a complete squad to underperform as we saw in the PSG team where they had Mbappe, Messi, Naymer and Ramos but still failed to win the Champions League trophy for the team.
Real Madrid will still have so many teams that will compete with them in the champions league but it is the performance of the team that will determine if the team will be able to dominate in the champions league.
The European Champions League is a competition that always brings some surprise, for example it has become normal for the finals of the European Champions League to see some unusual team against some expected team, as was the case in the final involving Real Madrid against Dortmund. , no one expected that Dortmund, who were not doing well in the premier league, would reach the final of the European Champions League, previously we saw Manchester City play in the final against Inter, who were also not doing well in Serie A at that time.
source: https://www.marca.com/en/football/champions-league/winners.html
This shows that it is necessary not to be too optimistic because even if a team has the best squad and the best coach, it may still not win the European champions' place. By clicking on this link we can see that there were a few years when Real Madrid were with good squad and coach but didn't win the European champions league. In my opinion, the focus next season should be La Liga first and then the European Champions League, because despite having many great teams in a disastrous situation, it is still no guarantee that they will not be able to win the real Madrid
Manchester City continues with their squad and their coach, they are still very strong, last season Manchester City only didn't reach the final because they lost against Real Madrid but it was a game in which they could have won too. Another point is that this season many big teams have new coaches who are making changes to these teams, which could create a very difficult scenario for Real Madrid in the Champions League.