Judging by the bookmakers' estimates, the Netherlands have approximately equal chances with Spain and Germany. The Netherlands are rated at 12.7 and Spain and Germany at 8.8 and 10.7. These are fairly close estimates, indicating that the Netherlands is in the group of favorites.
By the way, why do you think that European teams will perform badly at the World Cup? The Cup is formally held in Asia, but in fact it is a time zone in Europe. Therefore, I rather expect that Europe, as always, will dominate.
I don't agree with this. Spain maybe the favorites from the UEFA region and Germany is also a quite strong side (although they have performed very poorly in the UEFA nations league). Netherlands is far behind when compared to these two teams.
I am just assuming that UEFA teams will find it hard to adjust to the climatic conditions in the middle-east. Last time, when the world cup was held in Asia (South Korea/Japan), it was Brazil who lifted the trophy. Another aspect is that none of the UEFA teams (not even Spain) seems to be in peak form right now. Brazil seems to be far ahead of all the other teams.
If you are judging the shape of the teams by the games in the League of Nations, then most likely in vain. Firstly, no one takes them seriously (except for outsiders and teams that are left out of the main tournament like Italy). Secondly, even if these teams are not in shape now, what difference does it make? After all, it will only matter how fit they will be during the World Cup, which does not start tomorrow.
In terms of climate conditions, hasn't Qatar guaranteed that there will be some kind of super stadiums with fully air-conditioned throughout the stadium? I think I've heard something similar.