At this point its not the players IMO, England has a history of having great players but shit managers.
Sven, McClaren, Capello, Hodgson, Southgate.
Sven squandered the best XI we've had since 1966, McClaren speaks for himself, Capello just wasn't a good fit, Hodgson is an average manager, Southgate is below average.
Getting a modern, good coach through the door would help, but we tend to pick the wrong managers continuously.
Players go from playing modern football at club level, to dinosaur tactics at club level. In fairness to Italy, at least Mancini won a premier league at Man City, and won a Euros with Italy.
Capello had the best win % by some margin, problem isn't the players, England generally has a good XI that can go deep into tournaments, the problems the coaching staff IMO.