It feels like signing Ronaldo is almost entirely to do with stopping a rival from improving - which seems like crazy business.
They've literally convinced Cavani to stay on as a stop-gap, then signed a better version of him so Cavani will now not get used yet they'll pay his presumably high wages, I'm sure that will delight him. It will also take away half of Fernandes goals (penalties) and Ronaldo has a worse conversion rate, so they'll be slightly worse off in that department.
He'll be stroppy and expect players like Greenwood who'll be pushed out wide to play everything to him rather than shooting themselves.
There's absolutely no doubt he'll bring them goals and brings great commercial opportunities, but I genuinely don't think he improves them much on the pitch, Cavani was bagging them plenty of goals and would've likely done the same this season - they've now just got 2 older stop-gaps rather than 1 competing for the same position (and further isolating some of their younger players coming through).
They want a RB and CM, and have signed a 36y/o in a position they're stacked in instead, which who knows, may even hamper their attempts to sign Haaland next season too.
They were going to be competing for the title without him, and they'll be competing for the title with him, are they as good as City/Chelsea/Liverpool? The other signings are very good and will bring them closer, this one I'm less sure of.