With Malcolm added, the acquisitions for this window are done. If Cillessen leaves, he would need to be replaced with an acquisition, which should be a net profit. I don't know if Verm or Digne could leave without being replaced with acquisitions, going with a smaller squad.
Now the team can just focus on shedding deadweight. Good job dumping Douglas. Mina should yield real money. Gomes and Vidal must go, even if loaned with Barca paying some of their salaries. Denis, Paco, Munir, Rafinha, Alena, whether they stay as unhappy deep depth or they leave, no big deal.
I expect this year's squad, as is right now, to prove stronger than the squad available at the start of last season. Coutinho, Dembele, Malcolm, Arthur, Lenglet, this is much improved speed and quickness. The offense will definitely be more potent. Real offensive firepower will be available off the bench, which was entirely lacking the first half of last year outside of Paulinho.
Defensively, I would be surprised if the team proves quite as good as it was for all but the latter parts of last season.
Baring significant injuries to the few key players, this team will repeat winning Liga and Copa, and strike fear into all CL opponents. There could be records set for goals scored, this should be hugely entertaining.