England has a very good team, ranked 4th, the better team over Mexico, ranked 14. England was projected to win. But when you are down to 16 teams, yes, they are all good teams despite rankings, playing hard, was a good match.
Earlier, Norway (31) beat Brazil (6), which was considered an upset. Personally, I think Norway is way under-ranked given they have one of the best strikers in the game.
Argentina and Spain are the highest ranked, 1 and 2.