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.
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.
Many people disagree with you because they have their own opinion about this, and we can't force what we say even if they agree. Francis has indeed been a very good team lately, that was seen when they managed to compete in the World Cup final, even though in the end they had to lose to Argentina. I think it is possible that the performance of some countries will change, they may be better and they may be worse. What's more, now is the time to make those changes happen before UEFA Euro 2024.