I actually had 2012 down first before I edited my post. Still, the point remains: they've been title favourites practically every season of the last seven, and they've only got two titles to show for it. Those two titles were gifted to them at the death, as well, somewhat fortuitously. We've yet to see them dominate a Premier League campaign from start to finish like the great United, Arsenal and Chelsea sides have done.
I am fully behind you on this, it seems like every single time they win 2-3 games in a row, or have one convincing performance, people quickly put them up as title favourites and rave about their immense quality. It doesn't happen with any other top team (it used to happen with Chelsea for the entire period between 2006 and 2012 when people consistently thought they were so much better than us, even if we were winning 4 titles in 5 years).