What about Messi's Barcelona? And Manchester City in the past 5 years, by your estimation, could not be considered better than their opposition due to having won no Champions League? I think your standards fail the smell test, but more importantly it is anachronical to suggest the Libertadores was the foremost soccer tourney at the time.
They didn't always dominate in Brazil, they didn't on international stage either.
They are probably the best team of that era along Real Madrid but this narrative of them being much better than the opposition is imho weak.