This club world cup is a farce, but I think teams like RMA or Munich will really try to win it to save face.
Argentinian clubs are finished because they can't keep good players. EU clubs, Brazilian clubs, MLS etc buy all the good Argentinian players at a very young age because the management of the teams finances is a bit different than in other countries/leagues.
Maybe a Brazilian team will manage to go far but I don't think they will manage to win it if the Europeans decide to take it seriously.