With the exception of 2012, when they were considered strong favorites (50-50 with Spain) for winning the Euro, the Germans were rarely topping the betting coefficients. It was a real shock to see them making the final in 2002. The 2006 team was considered one of the least talented German teams ever, and their 3rd place was mostly credited to being hosts of the WC. In 2008 and 2010 it was more about "You can never underestimate the Germans", rather than "Germany will win this Cup".
It's a fact that they made it to 6 of the 7 EURO/WC semifinals in the 21st century, and won 0 trophies, but I'd call it choking if they enter a competition as favorites and fail to win it. This WC would be such a case.
As a matter of fact, in most of the above mentioned tournaments the Germans started with the same chance of winning as the English or Argentina (world cup). In some of the tournaments England and Argentina were bigger favorites. To sum up, the Germans did lose 2 finals and 3 semifinals in the 21st century, but in most of them noone even expected them to find themselves there.