It boiled down to Germany had a chip on their shoulder, and that Britain and France weren’t interested in allowing Germany into “the club”.
True to an extent, but Britain was willing to at least allow for some revision of the Versailles treaty once the depression hit Europe. Britain recognized that keeping Germany down was not conducive to either stability or prosperity in Europe. France would have none of it, however. France insisted on continued full enforcement of the treaty. It’s certainly understandable— France didn’t have a Channel protecting them from German aggression that they thought might occur if the treaty revision occurred. Ironically though full enforcement wound up producing a militaristic Nazi party in Germany resulting in precisely the outcome France hoped to avoid by enforcement of the treaty.
Even more so, France had a chip on its shoulder dating from 1871, and was looking for the first opportunity to exercise its vengeance.