I'd argue the actual opposite.
For Conte to do what he has done with the players he had is something pretty darn special. It's almost like Fergie winning the league that year with Cleverly and Anderson as first choice central midfielders. Look at Conte's squad. It's a very good core mixed in with some decent players, average players and some players who should not be playing for top six team or should have left or retired a long time ago.
His defense for example consists of decent but not great Gary Cahill, John Terry who should be writing his own will right now, Ivanovic who is old and hasn't been at his best since 2012, a bang average left back who was playing for a bang average Serie A side and a decent fullback who is playing at centre back. Also Victor Moses, a decent premier league winger playing the wing back role and David Luiz. Yet Chelsea have been almost impossible to score against. He's made two very average wing backs, Moses and Alonso look like Abidal and Alves in their primes, with Alonso a rock at left wing back and Moses bombing forward providing width on the right hand side.
His midfield consists of Fabreges and Matic who had the worst season of their entire careers last year and a newly bought Kante. Yet Fabregas and Kante have formed a formidable partnership that somehow protects the fragile looking defense (on paper that is) as well as provide opportunities going forward and having a control of the game. Other than these three, their next midfield choice is Jon Obi Mikel (!). It's not like Chelsea are wrecking with depth here. Fabregas under Conte has developed a fantastic defensive minded game aswell that somehow makes up for his lack of mobility and physicality.
Hazard and Costa had awful seasons last year but this season they look like two of the best players in the league. Costa, who has never been the most technically inspiring has suddenly looked a new player this season. Chuck in Pedro/Willian and you have the making of a very potent attack. Who have they got as backup? Err, a 20 year old Belgian unproven striker in his first season in the Premier League. That's it. Yet they're doing what other teams simply can't.
Compare Chelsea's squad, on paper atleast, with ours.
Terry, Cahill, Luiz, Azpiliceuta as your centre backs or Bailey, Smalling, Rojo, Jones, Blind?
Moses, Alonso and Ivanovic or Shaw, Valencia, Darmian and Blind?
What about midfield? Mikel, Matic, Kante, Fabregas or Carrick, Pogba, Herrera, Scheniderlein, Fellaini, Schweinsteiger?
In attack Chelsea have Hazard, Costa, Willian, Pedro and Batyshuai? We have Ibrahimovic, Martial, Mkhitaryan, Rashford, Lingard, Depay, Rooney and Mata.
There's not a part of the Chelsea team which, on paper, is better than ours. Our attack has infinetely more depth to it as does our midfield.
Yet Chelsea have been performing much better than we have, with performances much more confident and assured than ours. So what does that say?
Conte is basically a genius.