I would make Australia strong favourites personally - amazing what McCullum and Stokes have achieved but I would say Australia are stronger in every area, particularly with Stokes's injury situation. Their bowling unit is impressive (and they have a spinner) and batting pretty strong as well. We rely too much on inspiration rather than perspiration
Our batting has more depth but they have two "gun" batsmen to our one. You do realise Foakes has dropped far more chances than Bairstow as a keeper? Probably when he has played on turners on India tbf but you don't need a world-class keeper unless you are playing a world-class spinner (and we are not) or on Bunsen's. I do think Foakes has been hard done by of course