Although I agree with Lucho that it is way to early to talk about not being able to win La Liga, it must be admitted that so far this season, this has not looked like a team that is anywhere near consistent enough to compete for La Liga. But good enough to finish in the top 4.
Messi and Neymar are playing at a very high level, that is the good news. Production from Suarez is down, mainly because the ball is not getting to him. The team plays only 3 forwards, so injuries will be disastrous, and MSN will get tired.
Ter Stegen is looking better recently, but his season to date is nowhere near as good as Bravo last year. No keeper depth at all.
Pique has been fine, Masch has had a lot more problems than he did last year. Umtiti is usually hurt, Mathieu does not play. Alba is usually not available, Digne is clearly a step down from Alba. Sergi Roberto is not as good as Alves, and playing him every single game will not work over the whole season.
However, the big decline is in midfield. I blame Iniesta and Busquets getting older, and Lucho endlessly rotating while Iniesta is out, while overplaying Busquets. Maybe Gomes could play DM on this team. But with him playing further up the field, this will not be a top team. I think D. Suarez could do the Iniesta-replacement job, but only if he got much more consistent playing time.
Depth is poor, due to both lack of quality and the way Lucho uses the bench. Third or fourth place this year.