I don't think so, while I feel our first 11 (particularly midfield and attack) are pretty strong, our defensive frailties and thin squad would show over the course of the season. Defence is the big sticking point, even with Smalling fit, on paper it's still not as good as either Liverpool, City or Spurs and possibly Chelsea too. We'd only be an injury to Pogba away from our midfield losing 90% of its creativity and we'd be relying on the still-adapting Fred to provide the creativity.
Thing is, if we signed a good RB and CB I think we could have a really decent chance challenging next year, although they'd have to be actual quality upgrades. Add in a DM and a RW and I'd be feeling really confident we could challenge.