Nobody in Spain doubts the gravity of their two leading teams' heavy defeats in the first legs. 'Bundes 8 Liga 1', read one headline in the Madrid-based sports daily Marca.
But let's not get too carried away just yet in talking about a 'changing of the guard' in European football.
For a start, Bayern Munich and Borussia Dortmund have hardly come from nowhere. Neither can we take two poor performances by Real Madrid and Barcelona as proof of their demise.
Barca's humbling by Bayern has prompted some soul-searching that was probably overdue. More than one commentator has pointed out the expensive transfer mistakes that the leaders of La Liga have made in recent years - particularly in contrast to Bayern's own costly, but effective, recruitment.
There is also likely to be profound change afoot at the Bernabeu this summer. Jose Mourinho looks likely to move on, and president Florentino Perez will be keen on a more expansive approach.
Any new team is highly likely to be built around Cristiano Ronaldo, who is expected to sign a new contract regardless of whether his fellow Portuguese Mourinho remains.
What is clear is that the big two remain probably the biggest brands in world club football - and that is unlikely to change soon. "A strong Real Madrid and Barcelona is something that benefits all of Spanish football," said new Liga de Futbol Profesional (LFP) president Javier Tebas last week.
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