In many respects yes, especially since Liverpool were going for the treble of League, FA cup and European cup. However, Liverpool had 'only' won their second league on the trot, and had not achieved their decade of dominance. United were close to them the season before. Make no mistake Liverpool were the favourites, but the FA cup had thrown up so many surprises in the 1970s, not least second division Southampton beating United the year before (which was largely seen as a done deal by United fans in my recollection), and Sunderland's totally unexpected victory over dominant Leeds in 1973. Even though the big teams have dominated post-millennium, there have still been some surprises such as Wigan and Leicester.
I think most MU fans are pessimistic based on current form, including me, but it was not that long ago United beat City and Barcelona. It is possible; unlikely but possible. And just maybe history will repeat itself and we will once again be treble party poopers, and I for one will 'love it' if we beat them.