Carlo Ancelotti has a lot of work to do after his friendly against Rangers on 25th July, in which they lost 2-1. In that game he was without the five international players who have been at the Euros and have recently joined training.
Madrid's backbone is yet to come, but Madrid's results this pre-season are regular (one draw, one defeat and one win). The next friendly will be against Milan on 8th August. Less than a month before the start of the league and 'Los Blancos' are still not convincing.
They are still waiting for signings, although that issue is complicated, as it seems that the decisive summer will be the summer of 2022, where countless players as a free agents will come and go. Mbappe, Goretzka, Kounde, Haaland... can arrive; Bale, Varane, Modric.... can leave.