This is a great decision! I never understood why Europe under-invested in semi considering the talents they have and the strategic nature of it. Intel is dying a slow death, ARM is leaving UK's control, and TSMC is slowly taken over by China. The tables are turning.
The US companies do what they do best: innovate business models and find ways to vendor lock in and own the market.
But who's been doing all the research keeping moore's law alive? Lithography?
For a country as small as the Netherlands, you can wonder if we could afford from a geopolitical point of view to be producing all the world's chips (answer: no, it would force other place to invest highly in competition out of strategic interest).
Hence the strategy of being long term profitable and to just sell the machines to everyone at the same price.
It does make it baffling why Intel is unable to produce 5nn chips with the same ASML machines TSC is using. It must be management failing Boeing style.
As for the rest of Europe. Im sure they can politically do this. But where will the money end up?
It will end up in the pockets of friends and families of politicians that will be in "the management".
So don't expect anything from this. The future most sold chip will still be Apple Silicon or Samsung Exynos in TSC's foundry or Samsung foundry on a machine by ASML using IP from ARM and NVidia