The French are in a better position if we look at the younger players. They have Kylian Mbappé (24), Ousmane Dembélé (25), Randal Kolo Muani (24), Marcus Thuram (25), Ibrahima Konaté (23) and Aurélien Tchouaméni (23). None of the other European teams have this many talented younger players. And in case of France, they have an ideal mix of young and experienced players, with Olivier Giroud, Hugo Lloris, Steve Mandanda and Karim Benzema comprising the second group. They will be one of the favorites to win Euro 2024, but let's see how it works out for them in the end.
This is the reason I like Euro tournament more than the World Cup. There is much bigger concentration of good teams and there is never a strong favorite. Looking at the French players that you mentioned someone would say that they are a strong favorite. But there are other European nations that can beat France. Even Croatia who is never a strong favorite to win a title in Euro or World Cup managed to beat France.
France is always seen as the favorite team on paper. They were the team that made it to the final from the last world cup from the European continent. Even if they are unlucky against Argentina, at least after seeing their efforts, my favorite for the European championship would be France. Italy is also a strong European team. We have to remember what they did in the last European championship.