The squad is good enough to compete for much longer into the season if we're looking at last year, that much is clear.
However, I don't think the team is as stacked as you and others believe because the other top 3 teams are just as stacked, if not better. And the biggest difference is that they've won something together and have more experience than United.
Varane and Sancho haven't won anything with United, same with AWB, Lindelof, Maguire, Henderson, McTominay, Fred, Greenwood, James, Bruno, Cavani.
United don't have a settled GK and central midfield in terms of talent and functionality...it's 4th best behind City, Liverpool, and Chelsea. United's attacking line is probably better than City and maybe Chelsea, but it's close.