The Liverpool captain, whose own future is undecided, has also played down suggestions that the national team need to develop 'a nasty streak'.
"I'm not sure nasty is the right way but we came across a Uruguay who were cute, clever, disruptive and difficult to beat," Gerrard told reporters at a press conference.
"They never gave England the momentum to get forward. We've conceded four goals in two games and I think we've conceded five shots.
"I think we have got world-class players and I think we've got players with world-class potential. But these tournaments only come around every two years. We'll have to wait and see."
England have already been eliminated from this summer's World Cup, but conclude their Group D campaign against Costa Rica on Tuesday.