This race amounts to a global game of chicken, and the stakes of a mistake are world war. Let's hope cooler heads prevail.
On the other hand, there are some pretty amazing applications of air breathing hypersonic technology. You could use it to launch equipment, satellites and people into space much more efficiently (air breathing means you don't need to carry an oxidizer!). Or imagine being able to fly from NY to Hong Kong in an hour! This kind of tech is not as imminant as the article is implying. We've only barely demonstrated small air breathing hypersonic vehicles as feasible (see X-51 and X-43). The X-43 was a crude initial test that demonstrated flights of only up to 12 seconds. The X-51 managed to go for 6 minutes. Scaling this up to a transportation vehicle will pose a significant engineering challenge.