Hazard isn't as good as he was in 2014-2015. Matic/Fabregas have declined a lot. Both passengers. Costa is very good, but he's hit and miss with his temperament and yellow cards. They lack creative players. Oscar hasn't even improved since he joined. Pedro is pretty poor. Declined a lot recently. Willian doesn't contribute much with goals. And their transfer dealings have been poor the past 2 seasons. They have to rebuild. And they're very rigid in attack. No clear system in place. Rely on individual magic vs team play.
Their defense is also very bad. Cahill/Ivanovic need to replaced ASAP. And Azpilicueta, though he's good defensively isn't great bombing forward to link up with Hazard. They need a new LB/RB depending on where Azpi will play. Courtois has been poor for his standard too. Conte's got a lot of work to do.
I picked them to finish 3rd, but I overestimated them greatly. I don't think they'll finish top 4 again.