This here gives an fair idea about the engine modes different cars are using. So I have set the order based on the engine modes and the laptimes.
1. Teams are analyzing which tyre to start on. So they have split the running with each driver trying different compound. I guess they have similar fuel loads on both cars.
2. Red Bull - Verstappen using highest engine mode than anyone else.
3. Ferrari - Only Sainz did a bit of long run. He was also using a conservative engine mode. Refer to Bottas' Alfa for the engine mode he was using.
4. Mercedes - Hamilton using the most conservative engine mode, while Russell is using slightly more powerful. Refer to the Williams car using much higher engine mode, which gives a fair idea about how much Mercedes is holding back.
In my opinion, all three are on the same level when engine modes are normalized!
Below that:
5. Alpine
6. Alfa Romeo
7. Haas
8. Alpha Tauri
9. McLaren
10. Williams.