Capitalism baby, it's not worth it to build a fab in the US, unless they get government money of course, so they can close the doors years later with ton of extra cash to invest somewhere else with cheaper labor, it's an endless loop!
Capitalism to wait for a state subsidy? Yeah, no :)
Governments spending money in hopes of net gain? Particularly to incentivize behavior where it would not otherwise be profitable? Madness!
You can probably accurately claim that subsidies and investments are the main things that governments do.
That is not madness and not bad either. It's just not capitalism. (I am not claiming that it is anti-capitalism or anything of the sort. It's a proverbial pear in response to: is this an apple?)
yeah, literally happens in every market. Elon doesn't exist without suckling from the government teat and corn subsidies have completely fucked the agricultural industry.
Which is why people that consider them selves capitalist and market economists tend to dislike subsidies.