Tbh I haven't really followed Austrian Bundesliga for a while, but they're totally dominating it at the moment, crushing opponents by 3,4,5 goals left and right, and have established a double digit lead in the league early on already.
The few times I saw them they played a very aggressive pressing game which imo could get many teams, also top teams into trouble, but also leaves them under threat of counter-attacks. Furthermore, they have a tendency to be rather wasteful with their chances, which for example cost them dearly against Fenerbace in the CL qualifications, where they dominated both legs, but couldn't finish much and a few counter attacks and the clinicality of the Turks knocked them out.
They defenitely have the potential to go far, but I wouldn't consider them dark horses for the title. If they have good games against Basel and a bit of luck in the draw they could reach the semis, but unless some sort of miracle happens that would be the end for them.
I don't particularly like them, as their strength mainly stems from financial injections by Mateschitz (owner of Red Bull), but support them in Europe out of some stupid patriotic sentiment

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Anyways, I hope we play against them at some point of the competition, just so that I can see Juve live