a better indicator, use michael porter's cluster theory, see how many nobel's israel have per capita, then look at the GDP per capita, and it should be a bell shape, where low'ish gdp enables a nation to afford football infrastrucure (unlike swimming/golf/icehockey) and where a richer country, will afford great international competitiveness in underage levels where there are infinite resources for the best and brightest, but after underage, they come way back to the field, and are considered to "underperform". P'raps, at underage level, a rich country will overperform, as its catchment for potential talent, is 100%. In a country like nigeria, they will miss talent. england, no chance.
In a country like england, the avenues for a youth are nigh infinite, they dont have to play soccer for their leisure and entertainment. Brazil, nigeria, there are few option.
Its pretty clear why a larger, richer country, may be seen to "underperform". The reality as you dig down, is anything but. Its pretty clear actually.