There are a couple of odds that seem to be off. I think England should at least be equal to Germany, but rather ahead as you say. And Spain can never be that far behind either. I don't know if they overvalue the home advantage that much? The last time that a national team won the European Championship in their own country was in 1984 in France. It can't be the home advantage that the bookies value so high. Even Belgium is underrated in my opinion. These are some weird odds and France should be a clear favorite.
Belgium is not underrated. Their national team is nothing compared to their old days. At least they looked really bad in the World Cup last year.
I say this repeatedly here (that France is far ahead of the others), but other folks don't agree with me. And I agree with you on the home advantage factor. With or without the home advantage, Germany is a shit team. I don't have a very good opinion about England (especially after their poor performance in the Qatar 2022), but at least I could agree that they are far ahead of Germany. However, I can't agree with you on Belgium. Their peak years are behind them and with the downfall of Lukaku, they are out of contention for Euro 2024.
Finally we agree on something. I'm talking about Belgium

I also agree about Germany. I wouldn't say that they have that high chance to win the Euro 2024.
I just don't understand how can bookies give more chance to win the championship to Belgium or Netherlands than to Croatia. I don't know where these odds came from, but I would love to see the odds for Croatia. I'm not saying that they will win it, but I really don't think that Belgium or Netherlands are better teams than Croatia.
At the World Cup, Belgium was very bad in the first game against Canada, but after that they raised their level of play and were much better, especially in the game against us when they were a much better team. Only luck and the miraculous Guardiol saved Croatia from a well-deserved defeat.
Some say that Belgium is an old team that is no longer good, but it is a very experienced and high-quality national team that should not be underestimated.
The German national team is definitely in a big decline since the 2014 World Cup and they are not favorites at the next EURO, even though they are the hosts.
The Croatian national team is always dangerous and unpredictable, and has a chance to make a big result again.