No. It's a reflection of how financial markets value regional economies that use / back those currencies.
Over the past 15 years, Europe experienced:
* The Great Recession.
* A Sovereign Debt Crisis which lasted well into 2014.
* Increasing competition from new economies in Asia, mainly China.
* Brexit.
* The Pandemic.
* And now an unprecedented energy crisis.
Also, the EU had expanded swiftly in the '00s allowing many of the former Eastern Bloc countries to join the union. Arguably, one does not simply integrate national economies in a single market zone under a single currency. It takes years to align towards common policies, while dealing with the many challenges posed by cultural and political differences.
Let's not forget that the initial raison d'etre of the EU - such as it was conceived by Schumann and Churchill - was to ensure sustained stability and peace across the continent in the wake of World War II. In a way, the EU has been instrumental in protecting the continent from worse consequences given the turbulent waters the bloc has navigated over the past 15 years. But it hasn't come out of all of that unscathed.
In order for the EU to recover, it needs to invest in infrastructure and people. A massive challenge which is encumbered by the significant debts most European nations have been shouldering thus far.
You, on the other hand, using American technology to connect with the world and assert that "software is eating it", well, that's - historically - just one expression of American hegemonic power after World War II. In regard to the EU that's expressed military - through NATO - and economically through countless trade agreements which have led to tight integration (see: https://policy.trade.ec.europa.eu/eu-trade-relationships-cou...). Proliferation of US technology across the continent is just one expression of that relationship between the EU bloc and the US.