Yeah Bayern are lucky that they are so above of their league but it's a gift and a curse. PSG suffered from that in the Ibra era because they never really managed to rise to the occasion. Bayern on the opposite will and they can still dominate CL teams.
2 years ago, they won the CL without losing a match. Last year they utterly dominated PSG but Lewa was injured and they would have buried the tie in the first leg otherwise.
My opinion on them is that as long as Lewy is good, they will be so because the ball will end in the box with certainty and Lewy has been the best striker of the past 2 years. He's their biggest variable IMO.
They were absolutely dominant in 19/20 and deservedly won the CL. If they are still at that level then they will be hard to beat. PSG rode their luck last season befiore knocking them out (which annoyed me because I really wanted to see how they'd have played against Man City). If they are still the same team then fair enough.