Spain says hi. Or rather hola.
As someone who is half Spanish I would like to say you are right BUT:
EC 2008: Quarters won in SO against Italy, final 1-0 against Germany despite being the worse team
WC 2010: lucky win in last group stage match against Chile, all four playoff games ended 1-0 with the final against Netherlands decided in the 117th
EC 2012: almost thrown out by Croatia in group stage, beat France in close game and won against Portugal in SO
Both Confed Cups 2009 and 2013 were a disaster.
It's not like Spain destroyed all their opponents. They had a great portion of luck in every of these tournaments and it could have gone either way.
We don't even have real strikers that's why they think about letting Brazilian Diego Costa play for the Spanish NT.
Guys like Xavi, Villa, Puyol, Casillas, Torres etc are not what they used to be.