Well in fact no. Even with CFTs, EFT will still have a much shoter range than a Rafale with 3*2000L external tanks.
For the long distance strikes yes, in A2A or CAS however, the difference won't be that much anymore.
Air superiority
Rafale:
2-3 x supersonic fuel tanks
4 x METEOR
2 x MICA IR
EF:
2 x CFTs
4 x METEOR at semi stealth and low drag stations
2 x IRIS-T
=> further improved flight performance, thanks to drag reduction
=> very low RCS because of limited wing payload
There are basically only the 2 WVR missiles left, that would add to drag and RCS, while Rafales external loads will have a credible impact in these 2 fields!
CAS
Rafale:
2 x subsonic fuel tanks
1 x LDP
2 x triple pylons
6 x GBU 49
EF:
2 x CFTs
1 x LDP
6 x PW IV
=> further improved flight performance, thanks to drag reduction
=> 1000l more fuel than it currently could carry
=> 2 more bombs than it currently could carry with external fuel tanks
The Rafale might have 1000l more fuel, but is far more draggier with that config, which also should increase the RCS too!
Brimstone integration isn't funded yet (neither scheduled).
Which new PGM?
The Saudis haven't fully cleared their weapon package yet, but the Brimstone missiles was one of the weapons they were interested in. The UAE are only waiting for a reason to add AL Tariq to a possible Rafale deal too and now when AASM is in trouble, they surely will pressur Qatar not to take it too. India might have to add SPICE kits to retain precision strike and SEAD capablilty. Most likely the SPICE 2000 similar to M2K, but without AASM smaller versions are likely too and that surely will cost extra.
Well in fact no. Even with CFTs, EFT will still have a much shoter range than a Rafale with 3*2000L external tanks.
and remind there were CFT tests on Rafale
Just that the CFTs of Rafale doesn't hold enough fuel even for A2A roles, only 2300l, while Rafale with 2 Supersonic fuel tanks would have 2500l, with 3 even 3750. EF with CFTs offer 3000l, which equals it's full external fuel load, so no additional fuel needed.
In CAS Rafale with CFTs would still need a 2000l subsonic fuel tank, while EF with CFTs would have enough fuel for most smaller smaller loads, or would just need to add a single supersonic fuel tank. The lack of useful fuel is the reason why you see additional external fuel tanks, on all Rafale concepts with weapon pods, while an EF or the F18 Silent Hornet only need to carry CFTs in most cases.
Rafale is a much safer bet for the future, the French are fully behind it.
Till now I had agreed to it, but things are changing! No HMS, no IRST, no Brimstone, possibly not even AASM anymore (the 1000Kg version is still not funded) and a medicore LDP. On the other side the Saudis can make a difference now, even for India, as explained earlier, by reduced costs of EF.
If the consortium funds AESA and CFTs, the EF changes the game and even gets clear operational advantages!