"There is no one like you among the gods, Lord" (86:8). Is the psalm saying other gods are real?

The psalm doesn't stop to say, and it holds two lines together. "There is no one like you among the gods, Lord, nor any deeds like your deeds" (86:8), and two verses later, "For you are great, and do wondrous things. You are God alone" (86:10). In Hebrew the gods in 86:8 and God in 86:10 are the same word, elohim. Another psalm speaks both ways in two verses: "He is to be feared above all gods" (Psalm 96:4), and "For all the gods of the peoples are idols, but the LORD made the heavens" (Psalm 96:5). Moses and the children of Israel sang (Exodus 15:1), "Who is like you, LORD, among the gods?" (Exodus 15:11), with another Hebrew word for gods. Christians read the gods in verses like these in more than one way, and the chapter on Psalm 82 sets out the main readings of "the gods" in that psalm (Psalm 82:1, 82:6). What Psalm 86 says plainly is that there is no one like the Lord (86:8) and that he is "God alone" (86:10). These notes don't choose how to read 86:8's the gods.