PSG and City are most definitely a step down. They both lack history and pedigree; they only have financial muscle.
Real on the other hand
It's not so much about how he views them alone. Its also how Juve will view him perhaps 5 years from now. the kind of structure we ar creating with a core focus on youth, even Arturo could be available for the right price, 5 years from now depending on what kind of cycle he's enjoyed along with the team.
In all honesty though, this is the kind of player you shouldn't ever sell. Not just because of his game, but temperament. Like, I can see Isla being sold in a few years but not Arturo.