The Blues have splurged almost £1 billion on players since Todd Boehly and Clearlake Capital took over from Roman Abramovich took over last year but Neville feels that the decision to acquire promising young players is laced with risk.
Neville told Sky Sports' Monday Night Football: "It is a large investment and I still feel like Mauricio Pochettino will want better players in certain areas, particularly forward areas.
"You can play well but if you lack punch at the top end of the pitch and are a little bit rash at the back end of the pitch with young centre-backs then for all your good football you are not going to see the fruit of that labour.
"Big signings in terms of cash [but] I look at those names and there's potential there, potential that may become world-class players.
"But at the moment there is an element of risk, an element of looking into the future and seeing which of those if any become really top players."
Chelsea are yet to win in the Premier League this season and pundit Jamie Carragher agrees that there are weaknesses in the team despite the vast outlay.
He said: "What you would say about Chelsea is that they have actually impressed in these two games. I thought they played well against Liverpool, I thought they played well against West Ham.
"But when you spend that amount of money it does feel strange when not many of us are putting Chelsea in the top four. Now that doesn't mean it won't happen. But not many are saying that squad, with that amount of money spent on it, will finish top four."