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This is very similar to the race to create nuclear weapons. The Axis and Allies both realized, at roughly the same time, that it was possible. Both had programs to build one. Both knew the other side had programs, but they weren't certain how far along they were. So, the Allies devoted astounding amounts of resources to get there first while sabotaging the Axis's attempts. They knew the result of their efforts would be terrible, but they felt they had no choice.
A key difference between then and now is that THERE ISN'T A FREAKING WAR BETWEEN THE AXIS AND ALLIES. If one company loses, some billionaires bank account numbers don't go as high as that of some other billionaires. That's it. They're rolling dice with the planet for bank account numbers that won't even matter if they F up.
Am I the only one who thinks this is astoundingly, gobsmackingly stupid?