The first production Spitfire was on May 14th 1938.
And the first production Bf 109E wasn't completed until early 1939. At the time of Munich, and for many months after, the Luftwaffe fighter squadrons were mainly equipped with the Bf 109D, which was comparable in performance to the Hurricane, but had only half the firepower. Additionally, the D model lacked a fuel-injection engine, giving the aircraft the same aerobatic performance disadvantage as the early Spitfires and Hurricanes. Fail.
Germany could have attacked France through the Ardennes in 1938. The French had done an intelligence assessment of that possibility and concluded it was not possible, but somehow the Germans obtained that information and became very interested in it.
Yes, they could have attacked, and that attack would have been virtually certain to have been a miserable failure, for a variety of reasons.
First and foremost, what makes you imagine that the Germans would have attacked France without first dealing with Czechoslovakia? If this would have been such a great idea in October 1938, then why didn't the Germans try it in September 1939, when their army was much stronger, and they had a nonaggression pact with the Soviets?
Second, as has been explained to you,
ad nauseam as usual, the panzer formations that were so crucial to the German breakthroughs in the west in 1940 were much weaker, and far less numerous, in 1938. Specifically, in May 1940, the Germans had nearly 1000 tanks that mounted 37mm or larger guns. In October 1938 they had fewer than 150, and the majority of these were developmental models with extremely thin front armor, which made them vulnerable to even the the weak French 25mm antitank gun, as, of course, were the earlier panzers. In 1940 the Germans were able to use their heavier tanks to outmaneuver the French tanks and destroy them from the rear; this simply wasn't possible for the lightly armed Panzer Is and IIs.
The Luftwaffe was strong in 1938 while the RAF was woefully inadequate:
We've been over this many times; the Luftwaffe wasn't nearly as strong as you imagine, nor was the RAF nearly as weak as you imagine.
Yet another article written by a journalist with the clear agenda of rehabilitating appeasement by rehabilitating Chamberlain. Fail.