VP went into TI with the best odds and considered the best team. More 'experts' picked VP to win than any other team.
Not far behind(like 20-50 points behind) them are Liquid and LGD.
Then there is a fairly big gap and you have teams like Secret, EG, etc.
Then you have another gap and you have teams like Thunder, Winstrike, Pain.
But it is a China year so we'll see.