It's true that we have made some good signings, but we still haven't got a world class striker and only really filled the gaps that we desperately needed filling.
It's also true that most of the other top clubs have made top signings on top of already having good first teams.
As for winning it, there is more chance of being outside the top four, that actually winning the PL.
Man City, Man U and Chelsea have all changed their managers and have strengthened significantly, so they are not going to repeat there poor form of last season.
We will have done well to finish ahead of any of those.