I think the key with Liverpool is they have spent big but they have spent very well. They have also lost some huge names but managed to bring in some massive fees on those like Suarez and Countinho which must have been £200m alone. Bringing in the right players and growing the youth ones has been a successful formula that has landed them the Champions League and Premier League title.
They've always had world class players on their books over the years - they blew the Prem twice in the last decade with the likes of Gerrard, Suarez, Torres, Coutinho and co but then again they've always had weaker players bundled in like Carroll, Shelvey, Skrtl, Allen whereas now they have all bases covered. Unlike City and Chelsea, they didn't buy their way to the league and have been knocking on the growth door since 2015.
For all the money Man City have, they are getting kicked out the Champions League rather than winning it and Chelsea haven't managed to buy the Prem for a while since. I hate to say it but I think Liverpool and Klopp have done a marvelous job but they have had it way too easy this season and quite a few games this season especially early on they picked up some very fortunate wins.