A regression for Liverpool is certainly possible, especially when you consider that their success last year was considered an overachievement even with Suarez.
I don't think the dropoff will be as severe as Spur's was when Bale left though because Liverpool have more continuity then Spurs had. Most of the starting 11 will stay the same unless a new signing pushes their way through with a strong preseason. Plus with Lambert and Lallana you have two experienced players who played in the same league for a side that played a very similar style to Liverpool. The transition for them should be a little easier then it is for most players making a switch.
Any additional signings from here won't have to be depended on right from day one. The current squad is good enough to compete for top 4 as long as the defending tightens up a little bit, and that will buy some time for the new signings to find their feet.
The goal for this season should be to secure a top 4 spot again. That could be very tough though with how much the other top teams are improving.
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