I beg to differ. I think it's nowhere near the level of the Top teams anymore.
Just look at their forward line:
- Bale: Injuries have destroyed him, and needs to leave as the fans are on his back anyways.
- Vazquez: Has he ever actually had a good game? In all my watching of La Liga and the Spanish NT i've never seen him play well. Biggest fraud of a player i've seen in some time tbh.
- Benzema: Not the Benz of old. Past his prime.
- Vinicius jr: The one shining light.
- Mariano Diaz: 25 and nowhere near good enough. Makes Javier Portillo look like Raul.
Midfield:
- Kroos: Dropped a level. Even alot of people in Germany have said similar.
- Modric: Wanted to go to Inter this past Summer, and it shows on the pitch. 33 years old.
- Isco: Excellent player, but seems to of dropped a level. I do think that could be sorted with a new manager, IF they keep him. Alot of talk about him being sold.
- Asensio: Good player. Not a world beater though.
- Casemiro: OK.
Defence:
- Varane & Ramos - Good base CB's. Ramos is 33 this year however, and Varane has his injury issues.
- Nacho: Average, average player. Wouldn't get into any other big European team.
- Reguilon: Has promise, but still very inexperienced.
- Carvajal: Injury problems.
- Vallejo: Young player, could be good, could end up average.
- Odriozola: Been a disappointment this year IMO. The fact he has only played 9 La Liga games says it all.
and then you have the GK's, Courtois is unable to save a shot now for some reason and has been massively exposed.
But your first sentence is where we disagree, this is not a bad squad and your evaluation is also highly influenced by the current situation and results, it's the same story than United under Mourinho where people actually thought that it was a terrible team.
The midfielders and defenders that you listed are good to very good players, they definitely need more firepower upfront though. When I look at that team, my opinion is that it was built for Ronaldo and due to their messy summer and terrible coaches, they didn't put a plan to get away from that Ronaldo centered philosophy.
The way I see it, they need to find three type of players for their first eleven, a midfield dynamo and two attackers that compliment Vinicius. Now I wouldn't be surprised if they simply meltdown and teardown everything in which case every other clubs need to get ready and get the 2019 versions of Walter Samuel, Makélélé, Robben or Sneijder.