Bailey indicated little separated the teams in 2010, with several sides still in contention to play off in September - including Melbourne as a mathematical chance.
Although the Demons are in 11th position and are 10 points outside of the top eight, all but West Coast Eagles, have achieved five wins or more this season, with six rounds still remaining.
The 16th-placed West Coast has won four matches, including a fine win against Essendon at Etihad Stadium last round, highlighted by 12 goals from Mark LeCras.
Bailey couldn’t pinpoint the last time a season felt this close.
“Nothing comes readily off the top of my mind,” he said from AAMI Park on Thursday.
“Maybe it’s just an evening up of the competition. Maybe it shows the top few teams are further advanced than most of the others, but I think it’s a great opportunity for the rest of the year.
“Clubs are really fighting for a position not to finish last and also there is great competition with teams finishing in the finals as well.
“You’ve got both ends of the spectrum, so I think the AFL would be happy with that.”
Looking ahead to Sunday’s clash against Sydney Swans at the MCG, Bailey said it was crucial for Melbourne’s emerging forward line to build on its impressive second half against Fremantle last round.
“I think it’s an important aspect for us for the rest of this year - that [Jack] Watts, [Liam] Jurrah, [Colin] Sylvia, [Matthew] Bate, [Jamie] Bennell and [Aaron] Davey start to get some continuity down there,” he said.
“On the weekend coming up, we’d like to think that those guys are going to be prominent kicking goals.
“It’s an area we haven’t kicked enough points and we haven’t kicked a high enough score. But with those guys, the scoreboard will look better for us.”