The flamboyant Italian would like nothing better than the Scuderia giving Mercedes a run for its money, but he still sees the Silver Arrows outfit at the front of the pack this season.
"I do not share this optimism surrounding Ferrari," Briatore told F1 insider Leo Turrini's Quotidiano blog.
"I understand the feeling after the Barcelona test, but I doubt that the results are reliable.
"I just cannot imagine Mercedes behind, with the margin of advantage they had until the end of November. I think the Germans have been hiding," Briatore said.
"I would settle for a more balanced championship, with competition between different names."
The 66-year-old also expressed his doubts about Formula 1's new owners, Liberty Media, and their ability to steer and guide the sport into a new future.
"I do not enthuse about Liberty, who bought Formula One but may not know what they have bought," he said.
"They want to make every grand prix like a Super Bowl, but what are they talking about?
"How do you do a Super Bowl in the middle of the Ardennes? Or in Malaysia, between the monsoon and the snakes?"
A very close friend of ousted CEO Bernie Ecclestone, Briatore honored the former supremo's legacy recently with a surprise party in London.
The Italian said he had been appalled by how poorly Ecclestone had been treated by Liberty's executives following their takeover of the sport.