The flaw IMO is when fans assume that no improvement will be generated by any of the changes in all the big teams.
If we look at incoming managers and players for City, United, Chelsea, and Liverpool, changes will drastically pay off for at the very least one of those clubs. We are not up against positive effects from change in all those clubs, but we will have to combat great improvements compared to last season from some of all the changes in teams around us.
I don't think anyone is assuming that there will be no improvement..... Chelsea especially were so poor that they are almost certain to get better. However, are we not likely to improve as well? Same group of young players with an extra years experience, talented young manager with an extra year under his belt, not having to travel to the arsehole of nowhere every every other Thursday to play on some agricultural pitch, and significant reinforcements in key areas which should be bring the best out of our existing players. The league will be very competitive but we are as strong as anybody in my opinion.