The San Antonio Spurs shocked the NBA after back-to-back wins against the Oklahoma City Thunder last week. In the process, the defending champs also dropped three games to the second seed in the West inside 12 days. The Spurs’ growing threat is clear as day in the latest power rankings. In Week 11, they’ve overthrown Shai Gilgeous-Alexander and Co. for the top spot, prompting the NBA to make a significant change to its broadcast schedule.

Until last week, the Thunder’s dominance had reached a borderline-boredom level. However, the previous week has rendered a completely different narrative. A potential rivalry has caught everyone’s attention, prompting the NBA to upgrade its January 13 game to a nationally televised NBC/Peacock broadcast. It was previously set to air on FanDuel Sports Network locally, but that’s been cancelled.

The Thunder is 28-5 and has dominated almost every other opponent, but they’ve failed miserably against the Spurs, who’ve held their offensive rating to just 107.0 points in three meetings this season.

The defending champs’ offense also took a massive dip, to just 88.9 points, and, even worse, to 33.3 points in the paint per 100 possessions when Wembanyama was on the floor.

Have the Spurs leaped ahead of the Thunder as the best team?

Before the Spurs train-wrecked the Thunder, 73+ wins looked more realistic than ever, with perhaps a cakewalk to a second title. But the festive season kick-started a serious discussion about whether the Spurs had cracked the code. While the narrative and the recent record favor them, it needs a closer look.

Aside from beating the Thunder thrice, they have also beaten good teams like the Denver Nuggets, Houston Rockets, and Orlando Magic. Furthermore, they have dropped just one of 15 games against teams below .500.

So far, the Spurs’ balanced production on both ends has been the driver behind their success this season. They have the fifth-best defensive rating in the league (101.7) with Wembanyama on the floor, much better than the Thunder’s (104.6).

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But there’ve been a few caveats in the Spurs’ impressive run. Two consecutive double-digit losses to the Cleveland Cavaliers and Utah Jazz have been due to poor defense.

Despite a well-balanced roster, they also have a few issues on offense, especially from 3-point range. The Spurs have shot 23.0% from beyond the arc over the last two games.

Perhaps the January 13 matchup will portray a clearer picture of where both teams stand and who’s the real title contender.