When deciding if something related to making chips makes sense, I think you also need to consider geopolitical risk. From what I understand, a pretty large chunk of the world’s semiconductor manufacturing is in Taiwan, and there’s a significant chance it will all be taken over by China at some point. Meanwhile relations between China and the West are steadily deteriorating, and semiconductors are constantly becoming more essential to the world economy.
As an analogy, imagine a scenario where most of the world’s petroleum production was controlled by the Soviet Union at the height of the Cold War. It’s something a lot of world governments would have a vested interest in avoiding.