Other teams are just in a down cycle right now.
Germany stuck with Low for too long, France imploded, if Spain had Torres or Villa they'd have won this tournament. Netherlands had a coach that failed in MLS. Portugal ran into the Belguim buzzsaw but they themselves dont have the nous to win it all.
Also lets look at the 2018 run and the 2021 run.
Columbia on PKS
Sweden
Lose to Croatia
Germany
Ukraine
Denmark
Lose to Italy
Other than Germany, who were a very weak team imo, who did they beat that was all that impressive.
I think they will deeply lament these two tournaments for a long long time, I dont think things ever line up again, plus I dont see them hosting anything till maybe 2040 or so.