Mercedes has the strategic advantage IMO, and it's definitely a two-stopper, absolutely no doubt.
The Hard has looked a strong tyre all weekend and I doubt will be any slower than the Medium, but with all of the added durability benefits.
Mercedes will run M-H-H and RB will (probably) run M-M-H, but that second stint is crucial because Mercedes will have a stint length advantage on the harder tyre, and so will be able to drive the strategy at the first stop and pit earlier than RB ideally would like. This is unlikely to win them the race though, unless they gain track position at the first stop, because RB can just react to Mercedes and they will both run the Hard in the final stint.
But if Mercedes do pull the trigger early they will be vulnerable to traffic from both inside and outside the top 10, this is where Perez comes into play and needs to stay within Mercedes pit window, but with quite a few Soft runners inside the top 10, they may slow the pace early on and allow Max and Merc to build a gap.
If Red Bull somehow go M-H-M then I think Mercedes will take it because again they will have the stint length available to them at around half-distance to go to the end, with RB reluctantly responding on Mediums, or not responding at all. Plus you have to consider VSC/SC which would again play into Mercedes hands if RB had already used their 1 new Hard.
Another possibility is Mercedes going super-super aggressive and three stopping, which they have the tyres for and RB do not, who would be forced to either stay out or respond with a set of non-optimal Softs. For example, if Mercedes do drive the strategy early on and both teams end up taking their second stop just after half-distance, Mercedes would still have another set of lightly used Mediums to attack if need be. Again you need to consider VSC/SC in this regard, although Softs may work for RB depending on how close it is to the end of the race.
The only driver who I think might start on Hards is Tsunoda. For anyone else (including Perez), I think it's the wrong decision because again you are exposing yourself to an untimely VSC/SC which would leave you to complete a large portion of the race on only two Mediums, or Medium/Soft.
Edited by TomNokoe, 28 March 2021 - 12:39.