We don't live in a world where the people and the government can reasonably expect to have symmetrical physical warfare capabilities. This argument is irrelevant today.
The only area where the exists any form of symmetry would be cyber weapons, not physical.
Defending against other individuals is still a viable argument, and is the only reason I think we need to be careful about how far we go with regards to gun control, but that has some tight limits and I think we can find more effective solutions than guns if we put some effort into it and take it seriously.
We don't need any of that stuff to keep the balance. Iraq, Afganistan, and Vietnam are proof of this. Insurgencies are extremely effective against our military. The only real requirement for them to exist is a sufficient quantity of small arms, and maybe some improvised explosives. The argument is still very much relevant. What's happening in Venezuela right now would not be possible without having first disarmed the populace.
I probably shouldn't reply to an obvious troll account but... yes.
That is exactly how revolutions happen throughout the world - with weapons procured through the black market or otherwise illegal means. It's only the US which insists that a right to revolution be legally defined and protected by the very government its people theoretically intends to revolt against... and yet even with the Second Amendment, domestic terrorism and revolt against the government is still illegal in the US.
And Americans have started enough such revolutions around the world that they should have figured this out by now.