> Apollo was funded at a much higher fraction of the national budget, and I believe in inflation-adjusted dollars the cost is comparable but generally higher depending on how you measure it.
The Apollo mission had to invent technology from scratch that did not exist in the 60s. We have all of that knowledge today and then some, plus computers that are millions of times more powerful.
There is no reason to believe that the 8th mission to the moon in the 2020s should cost just as much relative to the national budget as the original did in 1969. We don't expect each new nuclear warhead to cost as much as the Manhattan Project did relative to the national budget.
Funding doesn't make things happen. In some ways funding can be a curse, and bureaucracies will grow to waste whatever funds are allocated. People make things happen. Competent people make things happen. Strong leadership makes things happen. The current NASA has leadership and talent gaps galore. It is also saddled with bureaucratic cruft that has caked onto its gears in the last 5 decades. It is not the same ambitious upstart that it once was. Could it be reformed? Yes, but not without cleaning house.
For what its worth, I don't think we should exclude SpaceX, obviously, as they are clearly iterating at such a rapid rate relative to everyone else that it seems hard to believe anyone will catch up (and at the most efficient cost basis).
I'm not sure why you think the Chinese will win, as even their smaller rockets are regularly crashing back to earth, one just yesterday: https://www.indiatoday.in/science/story/chinese-rocket-crash...
But sure, at least they are deploying, at least they're in the running, which is more than most nations can say.