I somewhat agree with the premise, but the real kicker is the opportunity cost: there is so much Europe could be doing with this money that would have actual, real-world impact. There is a critical need for independent European software infrastructure - for this kind of money, they could fund their own web browser or OS or social media platform, which would exist independently of US-controlled tech.
Would I trade a European-controlled alternative to Android and iOS for yet another particle collider in Geneva? Yes, absolutely.
Would I trade a European-controlled alternative to Android and iOS for yet another particle collider in Geneva? Yes, absolutely.