Reading Bayern forum it's a pretty gloomy place last weeks. They have more or less the same problems as Barca. They don't have financial problems, but are still only able to watch how the investor clubs spending 200-300m each window without any problems and they have to deal with overprized leftovers like Diaz.
They were never the club offering the biggest fees to begin with, but the gap increased much in the last decade. Also they always were able to get the best Bundesliga players in the past for a little fee or for free. These times are gone now. Wirtz, Frimpong, Ekitike all transfer for a huge fee to the PL.
Some of their fans are even wishing the SL back to be able to compete, but this ship has sailed when Uefa simply took that format for themselves. Barca and Real don't have an investor as well, but the huge international standing is helping both clubs somewhat and La-Masia of course, which Bayern doesn't have. Bayern's standing decreases steadily because no one outside Germany cares for the Bundesliga and they're not favourites anymore to win the CL due to said financial restrictions.
Their squad is pretty weak for their standard and their only big transfer was an aging Kane. They had luck with Olise, but you can't plan and depend on that going forward.
They definitely have to find some solution, if they want to stay among the top clubs going forward.