Exactly, at the time Serie A was the strongest league, with the 7 clubs competing for the title, even a few years later we had Inter and Milan winning the CL, now that time is gone.
Realistically, we are in the second tier of top clubs in Europe right now.
Tier 1 is Real, Barca, Bayern, the untouchables, as well as PSG and City (just because of the money)
Tier 2 would be us, Atletico, Chelsea, ManUtd (now because of the recent problems, when they get their shit together they're a tier 1 club), Arsenal