Red Bull motorsport boss Helmut Marko is convinced Mercedes will join the fight at the front of F1's field once the Brackley squad solves the issues impacting its 2022 car.
Mercedes is struggling to get a hold on the porpoising problem that is undermining the performance of its W13 Silver Arrow.
Although Lewis Hamilton was able to bag a podium finish at the opening race of 2022 in Bahrain, Mercedes' pace was well adrift of early race winners Red Bull and Ferrari.
But Marko dismissed the idea that Mercedes' early shortfall signaled the end of an era, or that the German outfit was now facing a plight similar to the difficulties suffered by Red Bull after 2013.
"You have to distinguish between the two," said the Austrian, speaking to Formel1.de. "The era after 2013 was determined by the new engine regulations, and Mercedes had an incredible dominance in this field.
"They were up to two seconds ahead of everyone, but logically didn't show it. Now with the change of chassis, and engine-wise, the differences are not so big.
"Mercedes is no longer able to turn a knob and immediately stage a party. But the team is broadly positioned and it is also staffed with really top people in the chassis area.
"I'm fully convinced they'll be back if they get the bouncing under control. And Lewis Hamilton is nine points behind Verstappen, so that's nothing either.
"I don't think it's an end [of an era], but maybe it's a fight on the same level."
Although Mercedes' porpoising issues have been cited as the main culprit of the team's problems, it has been suggested that the German outfit's power unit has lost part of its dominant strength this season and is now trailing its Honda and Ferrari counterparts.
Marko speculated that Mercedes' engine has perhaps been impacted more than its rival manufacturers by F1's upgrade this season to a 10% biofuel.
"I don't know exactly why Mercedes has fallen behind," he said. "It must surely have something to do with the increase in synthetic fuel, which went from five to 10%.
"It wasn't a cinch for us, and not everything is the same. But of course, we don't have this detailed knowledge of the Mercedes."
But the Red Bull chief also alluded to a staff exodus from Mercedes AMG HPP, largely triggered by Red Bull Powertrains which enticed personnel away from the Brixworth engine unit last year as it built up its workforce.
"Logic points to an explanation being connected with the fuel," added Marko. "And of course, when you have such a bloodletting, first of all Andy Cowell [departing], and then a good 50 people who are gone, the impact would actually be quite normal."
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