Matchday 4 of the UEFA Champions League league phase is in the books, which means we're at the midway point and the table is starting to take shape.

Juggernauts Paris Saint-Germain and Real Madrid have perfect four-from-four records and are sitting atop the 36-team ladder, with Arsenal not too far behind.

Statement wins from Como and Manchester United -- for very different reasons -- have both clubs well placed to survive the cut, while a number of players are putting their names up in lights after some stunning individual displays.

So, what to make of it all? ESPN FC writers Gab Marcotti, Sam Marsden, Mark Ogden and Rob Dawson are here to break down the action from Matchday 4.

- Will Man United's comeback save Carrick's job?
- As it happened: Fenerbahçe stun Liverpool, Como on cloud nine
- Yamal makes history as Barca thump Aston Villa

Q1. Are Como going to win this whole thing? The darlings of Europe have been charming us all season long in the Champions League, with big wins over RB Leipzig, Man United and Wednesday's 9-1 decimation of Lens. They're no slouches domestically, either, sitting in the top four of Serie A with 37 goals scored in 14 games across both competitions. Oh, and they have Nico Paz, who has six goals and seven assists already this season while also being the literal heir to Lionel Messi's Argentina No. 10 shirt, and Anastasios Douvikas (us neither) is the tournament's top scorer! So, how far can they go? Is there a more up-and-coming coach in the game than Cesc Fabregas? Can they keep it together? What is the secret sauce here?

Dawson: Como aren't going to win it, but they're fast becoming the team no one wants to play. Watching them close up against Manchester United, it was striking how well coached they are. Fabregas has got them so organised all over the pitch. Within that structure, they've got the flair and creativity of Paz. He ran the game against United and scored again against Lens. On top of all that, their stadium on the lake is cramped and uncomfortable for the opposition. It's an awkward trip for any team. Well on their way to reaching the knockouts in their first campaign in the Champions League, none of the favourites will fancy a two-legged tie against Como.

Ogden: I'm loving the Como story, partly because they are everything that Italian teams never are -- exciting, adventurous, risk-takers (sorry Gab, but I know you agree). Look, it isn't the fairytale story that some would have you believe thanks to very wealthy Indonesian ownership, but they are a breath of fresh air in both Serie A and the Champions League.

But no, they aren't going to win it all and I'd even suggest they won't even reach the quarterfinals because the Champions League is a much more unforgiving tournament in the spring and the big guns will not be caught by surprise by Como then. And who knows, Fabregas might be managing one of Europe's superpowers by then because one certainty is that this run of results are making him a hot property and somebody will tempt away him sooner rather than later.

Marsden: Like Mark says, it may not quite be the fairytale story some would have you believe, but let's be clear: the work Fabregas is doing with the players available to him is remarkable. Douvikas arrived from Celta Vigo after netting three LaLiga goals in his final season in Spain -- as many as he scored against Lens. Another goal-scorer against Lens, Lucas Da Cunha, was with the club in Serie B. Midfielder Luis Milla is a journeyman midfielder picked up from Getafe. Left-back Álex Valle is a Barcelona cast off who could not get a game on loan at Celtic. These aren't players Europe's top teams were fighting over. There is, of course, also young talent other clubs may not have been able to attract or ordinarily afford in Como's situation as a recently promoted team, like Paz and Martin Baturina, but in general this is a side which is far greater than the sum of its parts.

That is thanks to Fabregas. The football he has them playing at times is breathtaking. It's a shame we have to wait until the final matchday of the league phase to see them play Barça. I need that now. And talking of Barça, could they be Fabregas' next club? Teams will be queuing up for him. He will have to pick his next move wisely, although he should be in no rush to leave Como. Could they win it all? Someone asked me this week if we will ever see a team like FC Porto in 2004 upset the established elite. At the start of the season, I tipped Como to win Serie A. I still think they could. The Champions League is a step too far probably, but they're going to play a big role in this year's competition.

Marcotti: I'm going to sidestep the question of "can they win it" because, at the risk of being pedantic, the answer for anyone (well, maybe not Sabah FK) is "yes." (They play PSG and Barcelona in their final two group games ... that will be the reality check.) And I'm going to rise above Mark's little dig about Italian teams by referring him to AS Roma. Como's win over Lens was only the second nine-goal performance in the Champions League era and only the third win by an eight-goal margin. Oh, and they're doing it with three starters out. They have the second-best goal difference in the Champions League, Douvikas is the top scorer and Paz has the most assists.

Sure, they've spent more money, probably more money than their station in the game's pecking order allows. But let's put this in context. Other than Paz, they have two guys who cost more than €18 million: Trevoh Chalobah and Jesús Rodriguez. Relative to Champions League sides --- not just the elites like Arsenal or Real Madrid, but the mid-tier teams too -- they're paupers. So why are they so good and fun to watch? So much of the credit has to go to Fabregas. To successfully play this brand of football in Serie A and then do it again in Europe is simply ridiculous. He does what great managers do: turn good players into great ones and make a team greater than the sum of its parts. Given his pedigree as a footballer (Barcelona and Arsenal, among others) and what he's achieved here you can expect him to be linked with just about every big managerial opening out there.

Q2. Man United pulled victory from the jaws of defeat on Tuesday night with a 3-2 comeback win over Roma at Old Trafford, having been 2-0 down inside 20 minutes. Now that the euphoria's worn off, how do we feel about the result? Credit to United, but Roma had zero shots on goal and zero touches in United's penalty area in the second half. Is it a platform on which Michael Carrick -- yes, the guy who was reportedly going to be fired last week -- can build, or is it a false dawn? And will we still see Carrick leaving the club anyway?

Ogden: At the end of the United game, I made a point of checking Pep Guardiola's nightmare run at Manchester City in autumn 2024, and it was one win and nine defeats in 13 games. Jurgen Klopp had a similar sequence at Liverpool in 2020-21 when, as defending champions, his side lost eight and drew one of 13 games.

Prior to the Roma win, United had played 13 games this season and lost seven of them, winning just twice, so Carrick can at least console himself with the knowledge that more celebrated coaches have suffered as he has done this season. Guardiola and Klopp pulled themselves out of their rut, however, and would go on to win big trophies again, but Carrick is still a novice without any kind of managerial pedigree. It would be naïve to think that he and United are now through the worst and ready to bounce back in the Premier League and Champions League.

Yes, United won, but they conceded two goals and have managed just one clean sheet all season, so the flaws are still there. Carlos Baleba's injury is also a big blow. So for me, beating Roma might be a false dawn, with more pain looming against Aston Villa this weekend and Carrick's future still very much in the balance.

Dawson: It's too early to say. Carrick was very careful afterwards not to make more of the result than it was -- one win after a dreadful run. The manner of the victory will at least ensure that there's more energy in the stadium on Sunday when Aston Villa visit Old Trafford. Win that, and Carrick can start talking more confidently about corners being turned. Lose, and it will be back to square one and the hierarchy will have a decision to make about whether Carrick deserves to continue beyond the international break.

Given what's gone before this season, it's difficult to see United finding a level of consistency that will keep Carrick completely safe. That said, every winning run has to start somewhere, and the win over Roma was undoubtedly a special night.

Marcotti: It's not too early say at all, Rob! Is it a platform on which to build (and, by "build" we mean -- I would hope -- a team capable of competing for the Champions League and Premier League) then the answer is still "no." Why? Because the platform itself is rotten. It's still Jim Ratcliffe, Omar Berrada and Jason Wilcox. Ratcliffe isn't going to buy the club outright, he's beholden to the Glazers for every meaningful decision and his track record in football is remarkably bad. Berrarda came from Man City who could be wiped out if their appeal fails and, you'd imagine, would become unsustainable if it turns out that he was a part of whatever malfeasance the panel finds. And Wilcox, well...

Man United won a game. The players showed heart and intensity in the second half. But let's not forget, one of their goals was a (soft) penalty that had to be taken twice. Another came after a craven mistake from Leonardo Balerdi. And let's not forget the first 45 minutes either. You know, the ones which saw United go into the break with 0.24 xG and one shot on target, 2-0 down at home? Against a side with their third-choice keeper and without their captain, midfield general and most talented player?

Marsden: Like Gab says, the platform itself is rotten. It has never really been about Carrick. Tuesday's comeback win was a nice moment for the supporters and may buy Carrick a bit more time, but I don't think it will change the cycle of the manager at Old Trafford eventually paying for the incompetence above him. You would imagine the decision-makers have been sounding out potential replacements during the recent nine-game winless run. Fail to beat Villa this weekend and it may well be time to act and give the new guy the international break to settle in.

Q3. Bayern Munich toughed out a 2-0 win at Atlético Madrid on Tuesday, but there is so much more to this than the scoreline. Atleti, winners of seven straight in LaLiga, finally came unstuck ahead of a date with Barcelona this weekend, creating little against a defense that had been wobbly. Meanwhile Bayern have looked far more human this season: not only have they dropped points in the Bundesliga and Champions League, but they've had their first scoreless game in over a year (0-0 at Schalke 04), their goalkeeper situation is a mess, they've had a ton of injuries and most concerning of all, coach Vincent Kompany is away from the team following his collapse at practice last week. We can still consider Bayern one of the favorites, right?

Dawson: Yes, definitely. PSG have shown in the last two years that you can't read too much into what happens during the league phase. The bottom line is that Bayern have got one of the most devastating forward lines in Europe -- led by Ballon d'Or winner Harry Kane -- and special players win you games once the knockout rounds begin in February.

There will be debate about whether Bayern are on the same level as PSG and Barcelona, but if the question is whether they're "among the favourites," then it's not really a question at all. Only narrowly edged out in the last four by PSG last season, they are more than capable of going further this time.

Ogden: Bayern are definitely in the group of maybe four or five teams that can win the Champions League this season. They could have beaten Atlético by a much heavier margin on Tuesday, and they clearly have plenty still in their locker.

I also don't see a problem with their minor struggles in the Bundesliga -- it's not a bad thing to save your best form for the business end of the season, as PSG have shown over the past two years. Bayern were formidable this time last season and failed to go all the way, so if they are pacing themselves a little better this time around, that's surely a good thing.

Marcotti: I'd suggest it's more than "minor struggles", Mark. Nor do I think it's a case of "saving your best form" as nobody makes that sort of decision. It's more that, far too often, Bayern don't convert anywhere near the industrial amount of chances they create. And, at the back, they too often make silly mistakes that cost them dear. They're beating themselves and that's not a great situation to be in, albeit, I guess, better than having the opposition beat you.

I think there's definitely more than four or five teams that can win it and, of course, Bayern are among them. But they're not the clinical force they were last season: until Konrad Laimer's wonderstrike, the game was very much still in the balance on Tuesday. Injuries have hit them hard and, of course, so has Kompany's absence.

Ogden: Minor struggles -- no defeats and three draws!

Marsden: Bayern do not look as good as they did last season and I do not think it's a case of timing their form for the business end of the campaign. They look more vulnerable at the back. FC Augsburg, Viking FK, Arsenal and Borussia Dortmund have all scored twice or more against them in recent weeks. In that sense, at least, the clean sheet against Atlético, their first in eight games, was a good start.

However, on top of that, they are not as cohesive in attack as they were and appear more reliant on individual moments. Injuries haven't helped -- Luis Díaz and Jamal Musiala are big losses at the moment -- and the Kompany situation can't be easy, either. They remain among the four or five favourites to win the competition, but right now I wouldn't back them to go further than they did last year.

Q4. We're at the midway point of the league phase; what's your main takeaway so far? Could be a team, a player or a particular game; it could be a trend around leagues doing better or worse than expected. Your choice!

Ogden: There's something worrying about the state of French club football if you look beyond PSG, who are an amazing team and potentially three-peat winners of the Champions League this season. Lyon failed to make it past Fenerbahce in the playoff round, and Lille and Lens have just one win between them so far in the league phase -- a Lens victory against winless Slavia Prague. But a 9-1 home defeat for Lens against Como is not just a humiliation for last season's Ligue 1 runners-up, it is also a humiliation for French football.

France are still an international powerhouse, and they produce more top-class players than any other European nation, but their club game is in a sorry state and the days of Lyon, Marseille and AS Monaco being Champions League contenders are in the distant past.

Dawson: Manchester City will be contenders as long as Erling Haaland stays fit. Enzo Maresca has defensive issues to solve and it still feels like he doesn't know his best team. But with Haaland up front, City will always score goals. He was barely involved against RB Leipzig, yet still popped up in the right place at the right time to score the winner. On another night he could have had a couple more. City, in a new era post-Guardiola, perhaps aren't on the same level as PSG or Barcelona, but they have a chance because they've got the best goalscorer in the world.

Marsden: Talking of goalscorers, another Champions League match week, another Nicolo Tresoldi goal. He opened the scoring as Club Brugge won 2-1 away at PSV Eindhoven to make it three wins from four European games this season. That is now five goals for Tresoldi in the competition this term, including a hat trick at Internazionale. Teams lacking goals will be circling next summer, if not in January. It's not only club sides circling, either. Tresoldi is also at the centre of a battle between a trio of countries who all want him to represent them. Born in Italy, capped by Germany at youth level and also eligible for Argentina through his mother's family, he has not yet made a definitive decision who he will play for at senior level. It would appear to be a shootout between Italy and Germany, but Argentina are not ruled out and the charm offensive from each country is only likely to increase each time he hits the net.

Marcotti: Ha! How did I know that Mark would choose something grumpy and negative to highlight? I'm going to focus on the positives. Like goals. We're averaging 3.95 per game in the Champions League this season (and, no, not just because Como ran up the score). You want context? In the Bundesliga it's 3.50, in Serie A it's 3.18, in LaLiga it's an even 3.00 and in the Premier League it's 2.70.

Only two teams have won four in four (Paris Saint-Germain and Real Madrid, and the latter haven't looked dominant). We've had shocks -- Inter losing at home to Club Brugge, Viking holding Bayern to a draw, Bodo/Glimt beating Dortmund, Como beating Manchester United, Fenerbahce beating Liverpool -- and we've had great players strutting their stuff. I think it's pretty darn good.

And, no, I don't buy this "jeopardy" argument where somehow the fact that 24 of 36 teams make the playoffs ruins the competition. Seventeen of 20 Premier League teams don't get relegated. Doesn't seem to ruin the Premier League. Sure, some teams aren't very good, but 33 of the 36 have won at least one game -- they're mostly not that bad either.