I think it would be more accurate to say that realistically, France is not deserving of any more prestige in the western social/economic community than that of a third world country.
The economy is a paper tiger and has been for generations. The country is a poster child for the failures of socialism and the inability to learn from its mistakes in that regard. The cultural superiority (arrogance) the French are so enamored with is in their imagination.
I have nothing against the French personally. But, if the country was a pro sports team, it would be trash talk all week and everyone on injured reserve come Sunday.
Except that I hate french fries, creme de menthe, and steak au poivre!!!
Just kidding. You are right of course, but they now face a threat that will enable them to regain their lost honor (if they can).
Pardon moi, while I whip up a little bernaise sauce for my "double cheese burger."