So, obviously Hikaru is rated lower than most of the players in the candidates, even with the recent surge. It's equally obvious that he's a much stronger player than he was going into his semi-retirement a few years ago. The question is, given his recent 2800+ tournament performance ratings and dominance in all time controls that he's played over the last year, is his actual playing strength back at the 2800+, world #2 level it used to be? It's entirely plausible based on what we see, and lots of chess people think that he, indeed, as strong of a player as he looks. That would make him competitive in the candidates (though, that is a total crapshoot, and no one is a "favorite" to win.)