Recent results are not a fair measure/indicator of actual overall standard. Shouldn't performances in a previous Euro or WC matter? I am sorry, but when they used to count both current results/performances coupled with performances in recent FIFA/UEFA tournaments the rankings/seeding system were far more objective, at least for me.
As things stand, Switzerland, and to a lesser extent Belgium and Colombia (as I actually rate those teams) being in the top 10 is not a true reflection of their actual strength/ability.
It's the results over the past 4 years that count iirc, so yeah previous tournaments do matter.
If (recent) results are not a fair way to measure a team's strength, then there simply is no fair way. What is a team's overall ability anyway? I'd say Manchester City's overall ability is much, much higher than Galatasaray or Celtic. Yet Man City went out in the 1st round of the CL last season, those 2 others didn't. Surely, that's not fair.
I'd say our overall ability is far higher than Copenhagen's. But we couldn't beat them (yet). Again, completely unfair.
...
Next thing you know, results don't matter anymore. We'll just decide who's best based on overall ability & results from 8 years ago.