It is hard to resist the hype anywhere in the world, I can only imagine the hype level in Italy any time there is a remote chance to fight for wins and WDC...
But the reality now is that Ferrari has to chase after Red Bull after TD39 and early 2023 and all the hype is completely out of place. Everyone will improve over the season, Red Bull included. McLaren pushed their upgrades and favoured one driver to get them first and still won by luck, in spite of being the quickest (by a small margin) on Sunday.
The pessimism is even more out of place, with budget cap there is not a lot a team can do to massively improve over a season. Ferrari has improved the car and their track operations and even both drivers are performing better and more consistently than either 22 or 23 as a duo. And everything keeps improving with every weekend, as we can see.
It will take time to get back at RB. I still don't see anyone being consistently outright quicker than RB until later next year, after they are close to wrapping up WDC and WCC and have put all their attention and resources on 2026 car. I will be very surprised if it happens sooner, even with ongoing power struggle and somewhat hectic environment.