Several things:
(1) France has zero capacity to bomb German iron/steel regions until 1916 at the soonest with anything more than an occasional 25kg bomb. To the extent iron ore and coal needs to be imported the resources of Norway and Sweden are completely open - the MN cannot interdict anything from Norway, and entering the Baltic - forget it. Even in 1939/40 the French air force was not a potentially strategic arm.
(2) With Germany standing on the defensive in the west, things will go much worse for the Russians. If they go against A-H the way they did OTL they will end up with their northern flank hugely exposed and their logistics in grave jeopardy. The reality the Russians don't have enough small arms for their manpower, let alone machine guns, artillery etc. Their ammunition supplies are deficient. Their logistics are bad on their best day, the rest of the time a complete shambles. A large proportion of the officer corps is incompetent or corrupt or both from top to bottom. Yes there are some very good officers, but they are swimming against the tide. In WWI the Germans are not Nazis, and the Poles, Jews, Ukrainians, and others are likely to see the Germans ousting the Tsar in their vicinity as a good thing.
(3) Italy is a bit of a wild card, but the best France can hope for is they remain neutral. France will need to have some troops on the Italian frontier, and enough of the MN kept in the Med to protect merchant traffic in case the Italians decide to honor their alliance. With Italy neutral, and if leaning any way leaning CP, the A-H Navy can have free access to the Med, and since the RN is not playing this makes things worse for the MN.
(4) The Ottomans: Absent a threat from the UK, they have many options. Neutral leaning CP, and close the straits to any "belligerent" vessels - so any supplies to Russia need to come on neutral vessels so the British need to risk their vessels to bring supplies to Russia this way. They can jump in, attack the Caucasus, and of course now the Straits are firmly shut.
(5) Other neutrals: The Balkan states are for sure going to lean CP, some may decide to join in to carve off a bit of Serbia or Russia. Greece is going to be nervous, and strict neutrality while worrying about the Turks is where they are going - they might even join the CP so that the CP keep the Ottomans off their backs..."we're on the same side" - the Megali idea never gets traction. Scandinavians and the Dutch - "pay cash, we sell. You transport & take the risk".
(6) Belgians: They are looking in every direction and using lots of toilet paper.
(7) The USA: Officially, "not our issue". Various groups will try and help one way or another. Arms and raw materials will be sold to whomever can pay for them, preferably in valuta.
If Germany has large gains in the east with some additional territory and client states in the Baltics, some sort of Poland, and perhaps the Ukraine they will be happy. France will have been humbled, they won't want or need much territory if any, and by the time France might want another go Alsace-Lorraine has been German for 60-70 years and by now throughoroly German. Germany keeps its overseas colonies, it might take a ittle thing here or there from France but unlikely.