Mind you that they won the league 9 seasons in a row between 2011-12 and 2019-20 and played 2 Champions League finals during that period.
However, between 2020-21 and 2022-23, they have been pretty mediocre, finishing the league 4th twice and 7th last season. They have also been humiliated in their Champions League campaign last year, only being able to collect 3 points in the Group Stage while losing to lowly Maccabi Haifa. Additionally, they have been hit with a Financial Fair-Play violation this season, causing them to be kicked out from European competitions.
Personally, on top of the rebrand being extremely controversial, when I look at the old logo it reminds me of the successful Juventus and the new one just evokes feelings of mediocrity.