Our top two fencers are in the top 5 but our third girl is ranked 147 and then after that our next girl is 227. We are not a big fencing country, so it's actually a miracle that we have two girls somehow in the top 5. We have Kontochristopoulou in the women's foil ranked 86. No one else in any weapon or gender is top 100 (special shout out though to 18 yo Garyfallou who is ranked 102 in the women's foil ).
The sport has grown since 2004 slowly I guess. I mean, I don't personally know anyone who has ever competed in fencing even at an amateur/recreational level unlike other sports, so I can't speak much about it, but since 2004 we had Vougiouka, Gkountoura, and Georgiadou all very successful, so the federation must be doing something right because for decades we won no medals and rarely qualified any fencers to the Olympics.
As @phelps said, it is very hard to qualify as a European team.
Our team made a serious effort the last few years and are ranked 12th which is much better than they were before this Olympic cycle but still they are very far from the top 5/6, and let's not forget this is without Russia who won gold at in Tokyo in the team event!
Georgiadou seems like she will stay on until Los Angeles at least, she will be 37 yo. Gkountoura will be 31 so it's not a problem for her. The issue is finding a third fencer, though 15 yo Kourousi and 21 yo Mavrikaki have had some promising results (especially Kourousi for her age) so hopefully we can get a "decent" third sabre fencer and make a push to qualify for Los Angeles.
I was saying for the past few years we should try to bring Vougiouka out of retirement, she was top 5 or so for some years and retired after Rio at 30 yo which is not that old in fencing, but it obviously never happened for Tokyo or Paris so I can't see it happening for Los Angeles, the more that time passes the less likely a comeback will be...