The offseason isn’t over and every team theoretically still has moves left to make, but the single biggest addition of the summer is already locked in: LBJ signing with the 76ers. Giannis moving to Miami is obviously a splashy move too, but given the Heat’s current roster depth, Miami’s competitiveness next season simply isn’t in the same tier as Philadelphia’s. In terms of actually shifting the balance of power in the league, LBJ’s move is clearly the bigger one — it instantly bumps the 76ers up into title-contender weight class.

On paper: four All-Stars, two MVPs, and a breakout rookie

Look at Philadelphia’s projected starting five next season: Tyrese Maxey at point guard, Jaylen Brown at small forward, LBJ at power forward, Joel Embiid at center, and the shooting guard spot most likely going to last year’s standout rookie, VJ Edgecombe. That’s four All-Stars, two MVPs and two Finals MVPs, plus a rookie who’s already above-average. Very few teams in the league can match that on paper.

Tyrese Maxey’s speed, transition game and three-point shooting were all excellent last season, earning him an All-Star nod. Jaylen Brown carried a shorthanded Celtics roster into the playoffs almost single-handedly, and he’s a former Finals MVP in his own right. VJ Edgecombe had a strong rookie campaign and made the All-Rookie team — his low-usage, off-ball game and above-average wing defense make him a great complementary piece next to this Big Four.

The red flags: two names — LBJ and Embiid

The biggest question marks on this roster come down to exactly those last two names.

LBJ has proven over the past several seasons he’s still got plenty left in the tank and can play alongside other ball-dominant stars, but his defensive decline is just as real — Philadelphia’s defensive rating (DRTG) last season sat only in the middle of the pack. Jaylen Brown’s defense isn’t bad, but when the team needs him to grind out half-court possessions and create his own shot, there’s no room left to ask much of him defensively either. Add LBJ into that mix, and the 76ers’ defense next season could slip even further. The latest reports say they’ve signed KCP, who has a solid defensive reputation, but he’s not getting any younger and his three-point shot has faded — whether he can shoulder that much defensive responsibility, and whether he’ll cramp Philadelphia’s spacing, are both open questions.

Joel Embiid, a former MVP, has been battling injuries for several seasons now and is a shadow of the dominant force he once was — he’s unlikely to play a full, healthy season. Once the playoffs bring more physical, higher-intensity basketball, how long can he actually hold down the middle for this team? That’s the single biggest gap between this roster and a real title run — outside of Embiid, there’s no legitimate backup center on the bench to cover for him when he’s out. LBJ has already proven over the past few seasons that playing center himself isn’t sustainable, and with the market thin on center options, Philadelphia may struggle to find an answer at that position.

The East is a different beast than LBJ’s eight-straight-Finals era

The Eastern Conference landscape today looks nothing like it did during LBJ’s run of eight straight Finals appearances. The Knicks just won it all and return a fully intact roster. The Raptors got a boost from Kawhi Leonard’s return. Even Jaylen Brown’s old team, the Celtics, now led by Jayson Tatum, are probably a notch below true contenders but still a playoff-caliber squad. The Pistons, who had the East’s best regular-season record last year, are coming back battle-tested after a real playoff run. If Embiid or LBJ hit any injury trouble against this field, the 76ers may not actually hold the edge.

My take: a top-five contender, but not a champion

Bottom line: at full health, the 76ers genuinely have championship-caliber talent — not the clear favorite, but at least a top-five contender. Age, injuries and defense will be the defining questions for this team over the coming season. Given their injury history, I’m not backing them to stay healthy through a full season and come out with the title.