Brazil did to Spain what Bayern did to Barça. Could (should) be more, Spain should have 2 other red cards as well).
Spain has won 3 big championships in a row, which is a great accomplishment, but they have never played against Brazil and were even more unlucky to do so in Maracana for the first time.
Spain is still the best national team in the world (maybe Germany together), but their weaknesses are evident and are starting to be exploited. Suffered to qualifiy against Italy (if the had Balo, they wouldn't probably), didn't even touch the ball against Brazil (2 or 3 chances in 90 minutes).
Brazil on the other side is still developing. But playing in brazilian territory, with the strenght that our crowd give us (12th player) it is for sure one of the teams that will fight for the title. Another point intersting to point is that the defensive side of Brazil is really good (Thiago Silva, David Luiz and Danta), which gives tranquility for the other players to play well.
Hope Neymar will have a great season in Barcelona, will be the best for Brazil.
Also, the Euro might be more competitive than American Cup, which doesnt mean the level of the competition is higher. Today Colombia has an excellent squad, Uruguay too, Brazil and Argentina always have something. If you put the 4 best european teams and the 4 best american teams to play I am almost sure americans would do better.
Not to mention that in this side of the ocean the crowd makes a big difference, so even when Brazil plays agains 'Paraguay', it has something more in play. Paraguay x Brazil is a lot harder for Brazil than Ireland/Bulgaria/Ukraine x Germany/Spain/Italy. And the rivalry, ohhh, the rivalry.