I think it was better than 2016 but far worse than 2008 and 2012. We had some entertaining matches but I think if you take 2008 and 2012 as the benchmark, the standard of play was pretty low. In general I felt that many nations which were great in the past tournaments were approaching the end of a great generation or caught in transition.
IMO, we had only two teams with great individual quality in every position: France and England. Both managers chose to play a rather cynical style however that made the teams somewhat disappointing, even if England made it to the final. You just had the feeling that they could've been much better under a different manager.
Then there were a few teams with generally great squads but a few weak spots: Germany, Belgium and Portugal spring to mind. Germany and Portugal had maybe 1-2 position in which they weren't class but the managers fecked up. Belgium had many aging but generally great players but also disappointed from a collective perspective.
The teams that worked best as a unit IMO were Italy and Spain. Especially Spain's squad wasn't on the level of the other top teams, IMO, with many rather average players having important roles like Morata or Gerard Moreno. But they still worked well as a team. Still, in previous tournaments we had teams that worked similarly well as units but had world class in almost every position. Italy was a similar case with players such as Chiellini, Bonucci, Verratti and Jorginho but also quite average footballers like Di Lorenzo, Berardi or Barella. Anyway, I think Italy and Spain were overall the best teams in the tournament and their match had the highest standard we've seen.
And then there also were the typical "underdog" teams with a very good squad by their standards: Denmark, Swiss and maybe Austria. They provided many entertaining games and they were joined by a few surprise teams earning good results such as Hungary. But that's no different to previous tournaments, IMO.
So in general, entertaining tournament in a dumb format and no team came even somewhat close to the level Spain 2008 to 2012 had in my humble opinion. They had greater individual quality than the individually best team 2021 (France/England) and also worked better as a team than the best collective squads (Spain/Italy).