EUV has blended several (3) generations of shrinkage. And very expensive at that. Intel tried to go too small without it on the current formulas. Crazy to watch this miscalculation from a huge Corp.
Leading tech is a nation state / military issue. Will be interesting to see what quietly happens (to start) if nations fall behind.
For the last statement, I suspect that you'll see the deindustrialization of silicon valley unfold before our very eyes ...
Once Intel, Micron, Qualcomm, Apple, Xilinx, and lastly Nvidia fall down or get ousted to foreign competitors (most likely Chinese) there will be massive layoffs initiated overtime across the semiconductor industry ...
The thought of having very talented individuals such as HW engineers out of employment or underemployed and not being able to control a strategically important industry like semiconductors or worse a hostile foreign power like China having near total control over it is entirely nerve-wracking
Massive amounts of economic damage would be unleashed on America and it would have irreversible social consequences with communities being torn apart as seen in the American rust belt. Even highly educated people will be politically self challenged on their progressive beliefs as well once they too find themselves living from paycheck to paycheck which could drastically change the voting demographics ...
No country or nation can realistically maintain their wealth or long-term economic stability without an industrial economy sustaining it ...