Compared to the other regions possible third seeds (Lev, Furia 100T, SEN, Talon, Gen G, PRX), there's not a single team that I can confidently say is better than Liquid. I genuinely think that their performance at Lock in was decent despite being massively below expectations.
It's a completely new roster without an existing core made with players from three different teams that didn't play similarly (or really share any structure). Yet, their macro was still good, their setplays were good, and the IGL-ing was solid.
Once they manage to coordinate better - as all new rosters do after a few months - they will perform way better. Not good enough to match the S-tier teams because of their weak links but good enough to beat anybody else.