You Jews are just as guilty, as you look down your superior nose at those Gentile sinners.
God isn't partial to you, just because you are a Jew - you are under His wrath for your sins, too.
Having the law and being circumcised don't help you with this guilt.
How this is about Jesus / Application
The constant downfall of religious people is to look to morality or ritual for their justification, instead of looking to Jesus Christ. Paul attacks this head on in this chapter. Religious people are guilty before God, too. Worshiping rightly and reading your Bible every day will not save you, apart from trusting Jesus Christ.