If France doesn't care about who takes control of the territory afterwards, as long as they aren't terrorist supporting Islamists then it does have the capacity to seriously damage IS. Will it lead to world peace and happiness, no. Will it lead to an awful lot of Syrians continuing to die, yes. Will it marginally improve the lives of those suffering under IS rule, I believe so. Will it degrade IS' ability to recruit and inspire terror attacks abroad in the long run, yes.
Given a lot of poor choices you need to find the best one. Doing nothing is a conscious choice that may not be the best option.
I have no doubts France has the capability to "seriously damage" Daesh, but what about Daesh's successor - which is likely to be just as bad (or worse)? Unfortunately, it seems like democracy (with it's 4-/5-year election cycles) is incompatible with long term planning. It's a mirror-image of the modern-day corporate world, with CxOs who damage the organisations they lead in the pursuit of short-term gains (and the resulting bonuses), except that election stakes are higher (keep/lose the job).
Now there is the interesting concept of the rise of the "lone wolf" or individual cells that don't really have central co-ordination. Would Western intervention in Syria cause more of them? Would their rise be countered by reducing or removing the ability of IS to generate attacks? There's a debate to be had.
How many ground troop would it take to occupy all these cities ? This would be a repeat of the second Irak war, or Afghanistan, with the endless terrorist attacks, IEDs, etc.
Even if you have contributions from Kurds, Irak regular army, or Hezbollah, they would not be welcome as savior in Sunni's territory.
Like in most conflict, the military option can be used to create conditions for a political resolution, but you have to provide some sort of long term plan for Sunni population : you can't just tell them they will go back under Assad rule they despise in the first place. Currently, I don't believe there is a clear political solution. In this condition, the military option is doomed to fail.
I'm not saying it is good, but is it better than a pretty shitty situation. Do the other groups regularly crucify civilians and hurl homosexuals off buildings? If we acknowledge we can't impose a new government can we create a new normal whereby we smack groups which get out of line but otherwise stay out of the way. It's actually fairly similar to the old Roman system on the outskirts, and the same approach the British initially adopted in the early days of Empire. It's what the Americans sort of did in Afghanistan before the invasion of Iraq effectively dragged them into a civil war.
Not sure in which way Syria would be significantly different.
Also, Russia is being pulled even more into Syria. So a truly international force may materialise at some point. Not that I'm advocating that's a good thing.
USA can pull off its invasive politics via a) pouring insane amount of resources both militarily and politically b) by getting along pretty good with other Muslims while bombing some (like Saudis, Turks, etc.) c) by being an ocean distance away from the very people they drop bombs on.
How will France do all of that with a) much more limited resources b) while being uniformly disliked by almost all Muslim nations due to historical reasons and c) while being a boat ride away from tens of millions of agitated Muslims?
I believe, with this attack, France is pulled into this already extremely messy situation by the powers that be. And I am afraid things will escalate to a much worse situation.