I have to disagree with you on this point. The England team has some of the best players in the World. On paper man for man I'd say we have amongst the top 4 squads in the tournament. France, Italy and Spain being the other 3. FWIW I'd put the Germans around 7/8 in terms of squad strength.
What the point I was making is that even when Ze Germans, Brazil, Italy etc have poor squads they go into tournaments expecting victory.
I'm expecting an England win this year. The world cup will be harder because of logistics but we'll go far there too.