The squad has regressed.
It is not top 4
It would not reach a CL final
With Jose making some better decisions and them playing better it could however win the Carabou (already beaten City) and with some good draws and sacrifice in the PL, maybe the EL.
It has still regressed from where it was three years ago though, unless you think Rodon (unused) is better than Jan, and Bergwijn is producing more than Eriksen and Doherty is better than KWP and Tripps etc etc
Plus all of Sissoko, Winks, Davies, Dele, Sanchez, Toby are much worse.
So to be clear as you don’t understand
They were capable THEN of winning a CL and finishing 4th. We didn’t lose the final due to investment or lack of
NOW they are capable of winning a Carabou, maybe an EL and finishing 8th
Regression
Some of you think they have become better. That’s genuinely hilarious