I guess it depends on what we are rating them as. With this starting XI, I rate them as a 4th/5th placed team. They are no where near enough for 1st or 2nd imo and their squad depth is bad for a top 4 side.
I would also preferably get an actual CM (like an Equi Fernandez) instead of Fernandes who can help dominate the midfield and I still don't rate Onana as a GK (reminds me of MATS).
Some transfer rumours are weird like Ugarte and De Ligt, but the way Ineos is acting seem a bit promising.
I'd likely play Amad on the right over Garnacho, I think he's better technically, though Garnacho is younger and has more credit in the bank.
However, yeah I would go along with most of that. Fernandes creates chances but he hampers the way they play because he isn't able to control games and tries the hero ball every time, often resulting in them conceding possession. Risk-taking is good, but he doesn't strike the right balance in my opinion and goes too far with risks. He's a creative player but not calm and composed enough and poor in tight spaces.
I don't rate Onana either, poor saving technique and an accident waiting to happen. His short kicking is good but his long kicking is mediocre.
Ugarte looks a destroyer type, which isn't what they need for me. They need a DM or CM who can get his foot on the ball and set the tempo, receive the ball from the centre-backs and get them playing. From what I have watched that's not Ugarte.
As for De Ligt, he's someone I have always found was better when younger and had hype - his career has stalled and I suppose they'll be hoping to reverse his regression if they get him. It does seem weird though that they keep targeting Ten Hag's old players - Mazraoui too this summer.
But we'll see. I think the competition is quite good in that league, so I am not really convinced they even have a top 5 team based on that lineup. But even if they do, the far bigger point is they need to get the chemistry right and get them playing structured football. It might look a good team to some on paper but Man United's problem has been getting their team to gel on grass. They lack depth too and it's a squad game now.
Good discussion though. It's interesting to think about who will do well next season.