Gerrard, who won 114 international caps, reflected on the "golden generation" of players that failed to advance beyond the quarter-finals of a major tournament under various managers.
He noted that many of his teammates, including those from Manchester United and Chelsea, enjoyed success at their respective clubs, but this created divisions that prevented England from forming a cohesive team.
"We were all egotistical losers," Gerrard said, highlighting the camaraderie that now exists between the same players in their punditry careers.
Gerrard suggested that the culture within the England team was a major factor in their inability to gel as a unit. He stated that the team lacked a strong sense of friendship and connection, which is essential for a team to succeed.
England has yet to win a major men's international tournament since the 1966 World Cup. However, they did reach the final of the past two European Championships under Gareth Southgate.
Gerrard praised Southgate for his ability to connect with the England team, saying that the talent was always there, but the team's failure to achieve success was due to a combination of factors, including their inability to work together as a team.
Gerrard's own managerial career has experienced challenges, but he remains a contender for a return to Glasgow giants Rangers, where he won the Scottish Premiership in the 2020/21 season.
Gerrard expressed his desire to take on a new challenge in management, but only if it's with a team that's committed to competing and winning.
In an ideal world, Gerrard would return to management with a team that shares his vision and is willing to compete for top honors.
"I want to be at a team that's going to compete to win because I think that suits me better," Gerrard said.