I think they think they are a year or two away from competing. But even when they think they are there I wouldn't expect them to break the LT threshold for multiple years. The Cubs have a lot of "nice" players in the minors. But their farm system is a lot like their major league team. They are lacking impact players. Maybe Horton, Shaw, and Alcantara will be those guys. Shaw has hit everywhere but we don't know if he has a position. Horton has been lights out, but he's not pitched many innings. Alcantara is already on the clock and has a lot of development to do.
I can't speak for anyone else, I'm cautiously optimistic and also at the same time pessimistic, if that is possible. What I mean is that they do have a lot of apparent talent coming up from the farm, but perhaps not enough to be a perennial playoff contender. And they have demonstrated no willingness to want to be a perennial playoff contender through free agency. Maybe it will change once they think they have most of the pieces in place, but then they have to have the right players in FA.