Depends how you look at it. Its not the most successfull team this year (Real is), but they dominate pretty much every game they play though, and was really close to a quaddruple. They are really unlucky City being just as good, if not slightly better (debatable) Im sure it will be like that for a few more seasons.
The only reason Liverpool came close even got a sniff at the title is because City couldn't definitely close it out after being 8 or 9 points up by March. They kept dropping silly points against Spurs, Brighton, Soton, Palace and West Ham... matches that they typically win convincingly. But they were always on the driving seat.
Even, in the H2H matches, City were dominant and were unlucky not to come away with a win.
That's the PL - 2 domestic cups, won on penalties after 240 minutes of pretty much equality. They were lucky with Kepa fecking things in Carabao and Mount in the FA. A "fair" result would have been a cup each.
And in the CL, they were gifted a really easy path to the final. Villareal, Benfica, Inter are not quite Man City, Chelsea and PSG for example. Real Madrid didn't seem that bothered in the final, in fact they had a harder time in each of the knockouts than the final. Liverpool's press was ineffective and Real were able to play comfortably within the lines. Had it not been for a ridiculous VAR decision and some indecision in front of Alisson by Casemiro and Ceballos, it should have easily been 2-0.
IMO Liverpool overachieved this season and even that wasn't enough.
PS - if you're a LFC fan, no need to refer to them as "they". "We" should be fine