Agreed.
I've gone over this point before in several other threads so I won't repeat myself for too long, but it's worth remembering that even Ferguson's United had "off seasons" while he worked out something new for the future. They went without any major trophies (not counting the Charity Shield) in the 97/98 season, the 01/02 season, the 04/05 season, and then the 11/12 season. They went three years without the title while Wenger's Invincibles and Mourinho's first Chelsea team ruled the roost. We all remember "Three years of excuses and it's still crap, ta-ra Fergie".
Top teams with top managers always bounce back and so will City and Pep. We've had dry spells (no trophies in the 12/13 season, the 14/15 season, and the 16/17 season), we also went three seasons without winning the title during the Pellegrini/Guardiola handover period. Since Pep took over we seem to operate on a cycle of one off-season (16/17), two years of dominance (17/18 and 18/19), one off-season (19/20), two years of dominance (20/21 and 21/22) and it appears 22/23 is continuing that pattern. Will only start to worry if this carries on next season.