I doubt he's ever going to be as good as Eddie to be honest, but who knows. He's definitely behind in his development compared to Eddie at a similar age though; Nketiah started getting first team appearances when he was two years younger than Balogun is now. He was only 17 when he scored that brace against Norwich. Balogun has scored less goals on youth level too and has a worse goal per minute ratio, although the difference isn't huge.
My gut feeling from reading up on the lads is that Nketiah, Balogun and John-Jules are at a similar level talent-wise, but mentally Eddie seems a mile ahead and that's what's going to make him a top player while the other two might cap out at lower level. I haven't seen enough of them myself to really back that up though. I was hoping to get a better look at them in the cups this season, but John-Jules is out on loan now and it looks like Balogun is either leaving or getting loaned out too.
Whatever happens we should have enough strike talent coming through to support the first team for years, which is nice. I still remember the days when we were pinning our hopes on guys like Afobe and Akpom who never even managed a start. The current generation is two full tiers better than anything we've produced in a long while.