It's a conversation that's always going to be blighted by bias, but on the face of it I'd have said our squad at present is a lot better than Leicester's. Does that mean that the players they have are crap? No, of course not. The players we have make up, at present, the 12th best team in the country.
Wasilewski isn't as good as Chester or Davies, in my opinion. The latter two have proven with ease this season that they're every bit PL players. Marcin hasn't played in the top flight before, neither have the likes of Drinkwater, Vardy, Morgan, Knockaert, Mahrez or Dyer, so how on Earth you can say they're just as good as a team that's spent the whole season in PL mid table is beyond me.
If you didn't buy anybody, kept the same team and managed to finish higher than us next season, I'd accept you have the better team, but your basis on how impressive your team is comes from beating the likes of Yeovil, Doncaster, Blackpool, Barnsley, Ipswich etc. Ours is based on beating Liverpool, Newcastle, Swansea, Norwich, West Brom, West Ham etc.