I don't agree with them being mediocre, they won the league last season, they're hardly going to have a Leicester-style decline in the intervening period.
I think Liverpool and Man U will finish above us, though I would fancy us to stay above Liverpool if we are still clear by the time McGinn/Tielemans return if we can avoid any other catastrophic injuries in the meantime.
I think we will finish above Chelsea so long as we (at least) maintain our points advantage after playing them with us having a much "easier" looking fixture than them beforehand.
I don't think any of the teams currently below Liverpool will finish above us.
So, "yes", is my answer to the question the OP posed.