Absolutely they are! Whilst the Lions won 3 flags in four years 2001,2 and 3 (finishing losing finalists in 2004, Geelong won 3 in 5 2007, 2009 and 2011, losing to Hawthorn in 2008. Their cycle is currently on the downward trend with so many established players either being delisted or traded at the end of 2013; however, they are not yet done! Write off the Cats at your peril!
In the early part of the 2000's, it was the Lions and Port Adelaide who dominated (Port beat the Lions in 2004). Of late, it has been Geelong, the Sydney Swans and Hawthorn. West Coast have been there or there abouts and St Kilda had a good go in 2009/2010, although they seriously punched above their weight. In modern day football, clubs usually have a four year window in which they are able to launch a serious tilt at the flag. (their recruits mature and the team clicks). The exception has been the Swans where they have been consistently consistent for the last 6 or 7 years. The extended salary cap has helped their recruiting (still have no frikken idea how they got Lance Franklyn), but even without it, their recruitment and retention policy is second to none.
The Lions are going to surprise a few this year.
GO LIONS