It's career management perfection, isn't it? Win everything as a club manager, and then take over Brazil a year out from a World Cup in the the Americas.
Brazil may not look in great shakes right now, but Ancelotti will make them contenders. Other than Spain and Argentina, I don't think there's too much to be frightened of next year. Given the format, the challenge won't be so much the oppostion as surviving long enough in the tournament when others fall away by attrition. Three group games, last 32 and last 16 knockout games before the last eight. Five matches. The climate will suit them.