I think it's the end of the story for Ronaldo to play in the national team. From the manager of Portugal, but also from Ronaldo himself? At the last World Cup it was clear that there was no starting place for Ronaldo anymore. And Ronaldo won't feel like it anymore either. Moreover, he is now also continuing his career in Saudi Arabia, where the level is a lot lower than in the competitions in Europe where he and his current teammates played. And his age is gradually starting to play a role as well. You can't stay on top forever, even if you want to. Germany has a lot to put right after both eliminations and exits from the 2018 and 2022 World Cups in which they were knocked out in the group stages both times. They are playing all games at home, the biggest advantage you can imagine.
Ronaldo has achieved so much in his career and I don't think that he is much concerned about representing Portugal in Euro 2024 or North America 2026. Even if he had any concerns, that might have vanished after the harsh treatment meted out to him by Fernando Santos during Qatar 2022. And I believe that this is the best thing to do, both for Ronaldo and for Portugal team as a whole. Because younger players need to be groomed. They need to take up responsibility, so that they will be ready for the 2026 World Cup.