We still have one of the most expensive squads in the league in terms of wages. I can't really see us adding someone like Naingolan without someone like Matic leaving. (I don't know how much wages we have saved by letting Pato and Falcao go.) I would prefer Matic in normal form anyway, if he is able to restore it. With one striker and one CB (Koulibaly) we have addressed two of the most imminent problems. I would be happy if we start the season with that. (I am obviously hoping that Courtois and Hazard will improve significantly compared to last season.) Having said that our priority needs to be going for a CL spot. We should not consider ourselves any kind of favourites for the title.
I do not know whether Conte will be able to steer us through that because the competition will be tough and my gut tells me that Leicester will make top 4 again (if they manage to keep Kante, Vardy and Mahrez). So it's City, United, Arsenal, Spurs, Liverpool and Chelsea fighting for the CL. Since I can not see City not winning the league, it means that United, Arsenal, Spurs, Liverpool and Chelsea are fighting for the remaining two CL places. It will be interesting to see how Conte deals with the kind of adversity he has never faced before. But we also have to assume that with Hazard and other key players in top form his task will be a lot easier.