From here those things are possible. As is competing for the very title itself.
I happen to think that points will be a lot harder for us to come by from here. Teams are forewarned and forearmed, and we won't play to the standards that established us as legitimate top of the table competitors..... Not because we can't, but because teams without the experience of competing for prizes* tend not to. It will be interesting to see what moves the owner makes in the transfer windows, to see if there is a perception that an opportunity exists. It will also be interesting to see if the current coach ultimately survives that process. It's not the fans we need to be most worried about.
All sorts of interesting, a range of possible outcomes. I don't think one (heavy) defeat changes those things. Nor do I think we've suddenly become a bad side. Unless we have a run like chelski that starts to point to that.
This is football jeopardy free, and opportunity rich. Sure don't get ahead of ourselves, and let's not criticise coaching whose success and elevated expectation risks becoming a stick to beat them with. But equally don't get too tense about it. It might be a once in a quarter of a century high.
I would be against getting angry at 'words', and consider context and nuance in their deployment to expose the subtleties of meaning. For me it's a legitimate discussion to say that we could be champions, most probably won't, and I'd take anything top half as exceptional progress. YMMV.
* By prizes I mean a qualifying placing, more than a trophy per se.