If you play slow and give the AI enough time to sort out its finances, it will field some good units eventually, growing up from militia phase...
Here's some screenshots from a vanilla 1.2 campaign, about turn 150 IIRC.
I'm sorry but don't have any pictures of the french armies, I remember fighting lots of top cavalry (lancers and chiv knights) plus serious heavy infantry and missiles - they were one of the last factions to die in the campaign I took these screenshots, and had time to build some pretty impressive and quite well balanced stacks.
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