Well, they probably could've held against Hungary. In fact, before Anschluss they had a defense plan, which counted on them delivering a quick strike against Hungary. The original Czech defense plan before Anschluss was that they would have border guards at the border with Germany skirmishing and delaying, while the main part of the army would actually secretly be at the Hungarina border and even if Hungary helped Germany, as it was outnumber by the Czech army, the majority of the Czech army would in combination with the Romanian and Yugoslavian forces occupy Hungary with czechoslovakia as the dominant of the 3 taking the most of the resources. By this time, France was supposed to have finished mobilizing their army and striked into the undefended Germany, while the USSR would send supplies and troops to czechoslovakia through Romania, as czechoslovakia had excellent ties with Romania and hoped to convince it to allow the USSR. If Romania did, the USSR would send it's troops to the Slovakian mountains, while the army would come from the Hungarian front into the Slovakian armies. The defense army would then retreat slowly into Slovakia, while destroying any factories in the Czech portion. In Slovakia they would enact guerrilla warfare from the mountains against Germany, in hopes of distracting enough troops from the western front. By this time the French would attack through the lightly defended west, securing Rhineland and saar basin, which would be the German economical power house. Either with Britain if France or alone managed to convince them they would send fleets to blockade German ports. The main French army, would meanwhile push into Proper Germany past the Rhineland in conjunction with the czechoslovakia army and the soviet army, which would at the same time hopefully surround the German army in Slovakia and crush it. Then they would go to the original Czechoslovak border, where some would hold the line against Germany, while their secondary army, would go into oberschliessen and unterschliessen (lusatia), which were and are the German version of Sudetenland, where the majority were sorbs, oppressed and wanted to unite with czechoslovakia. Thereby just before the push, the sorbs would be encouraged to peacefully confuse the German army and resist to then be sent weapons by the Czech army in an armed rebellion. This armed rebellion would further weaken Germany as it has a lot of industry. The Czechoslovak army, would so hold a line form the western edge of the sudetenoland to oberschliessen, while France would have Rhineland, areas of Germany proper and Saar. If Germany didn't surrender, the Czechoslovak armies and the French armies would forge a sharedborder in southern Germany, where the armies would go under a common leadership with supplies sent through. From here they would push into the heart of Germany, Berlin. By then Germany would probably surrender and it would probably end with Czechs maybe getting lusatia and French getting the saar basin and an indepedent Rhineland. Obviously this would be made easier with UK help, but they would have a high chance of winning alone together before the Anschluss happened. Even after Anschluss, the plan stayed similar and they still probably would've won together. Although after anscluss, one thing, which changed was that instead of pushing through Lustatia, they would rely on the people there to passively resist and push through Austria, where they also outnumbered the germans securing the front, from where, they would wait for the French advance into Germany proper and 2 or so months later push into lusatia. It would just take longer with more causaulties. If you look at the millitary, it was only after Munich, where in hopes of getting peace, they turned a regional war into a world war and might've lost. Only after Munich was it no longer certain France, czechoslovakia and even Britain would no longer win against Germany. I find it ironic that in hopes of peace, they turned a regional war into a world war. I do wonder why lusatia still belongs under Germany, especcialy after WW2, it should've came to czechoslovakia in my opinion