I call it the Cristiano Ronaldo effect. Ever since he burst onto the scene, he has breathed life into Portuguese football, inspiring the generation after him.
In Fernandes and Jota, he has two very good sidekicks, something he never had previously. While Euro 2016 was some sort of a fluke, this time, the Portuguese team look like genuine contenders and i'd rate them among the favorites alongside Spain, Belgium and France.
It is a pity though, I think the next World Cup will be one or two years too late for Ronaldo. He'll be 37. Which is pretty ancient by professional football standards. Only Zlatan is playing at a high level at that age and beyond.