Its comparable but I think England clearly have the edge.
The defences are of a similar level, Germany have the better midfield two, but it's the full backs and the attack where England really have the edge, and that too in numbers. That's why the England squad is better, especially when playing a back 5 where the midfield two don't need to be as technical. And I'm not overrating England teams, I think a lot of the teams they've put out (even in 2018) were not that good, the team that played in the 2018 semi final had Young, Lingard and Dele Alli starting in midfield. Since they they've had a lot of players establish themselves - Sancho, Mount, Foden, Grealish, Reece James, even the likes of Shaw, Pickford and Maguire have improved since then.
Full back comparison - England have Shaw, Chillwell, Reece James, Trippier, Walker, TAA. Germany have Gosens and no real right back.
Attack - the strongest front 3 of each would be Grealish, Kane, Sterling. Versus Gnabry, Werner, Havertz. Germany's 3 are good, but they're still inconsistent and crucially lack a goal scorer compared to England having Kane. Havertz is technically excellent but he's almost a second striker, he doesn't dribble the way Grealish or Sterling do so it's hard for him to break down packed defences. And the depth options - Germany have Sane, Muller and Musiala, whereas England have Sancho, Foden, Rashford, Calvert Lewin. Comparable especially if Sane is on form but I'd say England have more options.
Even in defence id give it to England because
Maguire, Stones and Walker as a 3 are more physically able and far more comfortable on the ball than Germany's. You saw that with how many times England's CBs could bring the ball out under the press Vs Germany's.
I don't think it's a reach to say this either - teams are cyclical and Germany are still evolving from the great 2014 team, where some of the players are still being phased out and new ones are trying to embed in. They've lost Boateng, Bastian, Lahm, Khedira, Ozil etc and while some of the replacements like Kimmich and Goretska have established themselves, as a whole there's not been enough new players playing at the former players level. I think in 2-3 years time when the younger German players hit their peaks and new faces bed in to plug some of the gaps in the German squad, Germany will be a force again. But for England, there's almost no one in the squad left from 2014 and there's been a serious wave of young talent come through in numbers and the core of Kane etc are close to their peaks.