That is one of several reasons proposed in TFA; in particular TFA mentions TSMC's earlier investment in EUV being due to the guaranteed volume of smartphone chips.
Did not read TFA and if it doesn't focus a lot on the 10 nm/Intel 7 botch it's not fine, but I've read TSMC's very roughly equivalent 7 nm node was also non-EUV but less aggressive than Intel's. And it succeeded unlike Intel, which then made it natural to start introducing in production EUV in their 7+ node. Here I suspect gaining real experience in chips delivered to customers trumps whatever volume you'll end up doing.
I very much doubt this. When EUV decision was made Intel was at the top of the world and had more volume than TSMC. As I understand Intel's reluctance was mostly about doubt whether ASML could deliver, and while ASML delivered I must say, even in retrospect, Intel's doubt was justified.