Prior to the recent decade, peer on peer warfare was considered pretty unlikely overall, where COIN was the big thing everyone was worried about.
Here in the US anyway. I'm not sure what priorities the British have and how much budget they have to throw at them.
Minor quibble, but Rafale does not make a cutting-edge fighter. The US, Russia and China all make 5th gen fighters. France does not yet, they mostly make 4.5. Before long here, the 5's won't be cutting edge anymore and we'll all be on to 6th gen.