France and Spain undoubtedly deserve to be in the Final.
Serbia undoubtedly deserves not to be even in the top 5 with the way they've played the last 3-4 games. One of the main reasons that we looked so terrible against Russia is that we didn't have two key guys in the rotation (Tepic and Rasic). The people who got more minutes as the result (Paunic, Markovic, Bjelica) simply did not step up and didn't treat the game with the urgency that the Russians did.
I think this Euro tournament demonstrated, more than any in recent memory, that a lot of European teams are developing highly aggressive and athletic players, which is contrary to the belief held by most NBA followers. On the other hand, while Serbia does have a few players like that (Rakocevic, Sasa Pavlovic), they haven't even been called up to play because the coach has a view of who meshes well with who regarding chemistry and how he wants the team to play. We play like a team very well, especially in the transition, but we don't have too many players who are fast enough and athletic enough to thrive when they play 1 on 1. While it's a team game after all, you still need players who can step up and not depend on others to win games. By stepping up, that doesn't mean jacking up 3s but shooting well off the dribble, step backs, and so forth.