I think this season will be a different one and Manchester City will not be able to win EPL because a lot of changes has been made and new players bought in various clubs to strengthen their clubs so that they can be able to be in competition with City.
I'm surprised that you claim Man City won't be the winner of EPL. IMO, Man City is still the most favorite team to win EPL with their current squad. Even if other teams have bought many new players, it doesn't guarantee they will be more competitive and can beat Man City.
It is possible that the competition in the EPL will be tighter, however, I also think that Man City's chance to win the EPL trophy is still big and I believe they will do it again. It's just that, it certainly won't be that easy, as before, the competition in the top 3 will certainly make everything more interesting and challenging.
On the other hand, it seems that for the top clubs, there are not many changes to them. Like Liverpool, which until now has not had a truly top transfer and has a role in the club, there is only Vitezslav Jaros (Goalkeeper, free transfer). Then Arsenal, there are Calafiori and David Raya, with conditions like that, Man City still has a squad that is quite the same as yesterday except for Alvarez, and this does not change much, especially since Man City's main squad is still the same.