Not really. It's that they have ZERO competition AND the problem of inventing/manufacturing the technology is so hard that no one can afford to compete and its barely viable for ASML as it is.
The other issue is that $150M for a stepper is more than an order of magnitude more costly than the previous stepper technology used for 20+ years. To make that work, very expensive CAD tools were required to grossly violate normal diffraction laws (but obviously not the laws of physics themselves). This is done with "multi-patterning" which uses multiple exposures of the same targets to attain sub-diffraction limit dimensions. It requires many additional process steps to do this and it's mathematically/CAD intense.
And finally for fabs, the throughput of ASML EUV is about 1/50th of the prior steppers (but the previous steppers required 5-10 additional multi-patterning stepper exposure steps in the process to attain similar results. The general rule of thumb is an additional process step is 1/2 day of throughput so the old technology would add a week or two of throughput but the lower throughput of EUV only saves about 50% of that so the throughput is worse or a wash.
As it is, the wavelength of EUV is 13.5 nm so the diffraction limit is still only 6.25 nm feature size (so 7 nm is clean without multi-patterning but below that you need to return to multi-patterning but not as many steps added (yet).
The "Net Net" is that yes EUV is the only way get deep nanometer dimensions (<25 nm) easily and cheaply BUT EUV is economically marginal for both stepper vendor and fab.
The former is why no competitor wants to jump in (plus patents as well). The latter is why it's certainly necessary if the commitment to deep nanometer is life-or-death for the fab. A LOT of fabs have decided that there are better markets above those dimensions that they can tap so they've written-off deep nanometer and switched orthogonal to different market value propositions.
Fun Fact 1: another common name of EUV is "soft X-rays". As such, conventional lens-based optics DOES NOT WORK, so the ASML system uses the only technology that works for X-ray optics: low-angle, glancing metal mirrors. A well known other application of this is X-ray telescopes in space.
Fun Fact 2: the optical power level at the mask is less than 10 watts which is barely enough to expose the photoresist. This requires far longer exposures with perfect mechanical stability to hold the mask-created image exactly still. This is why the throughput is so low compared to prior steppers. This is also where much of the capital cost comes from: stabilizing mechanical components far beyond what prior technologies required.