I feel like the people deciding what (research and technology) to fund in the EU generally have very poor taste in their selections. I assume that they are non-technical as they often seem to choose the projects that make the most ambitious claims about social impact and EU values, but have very little to none technical merit.
Stuff like Rust, that could be a real technological advantage for the EU, is not funded, but weird blockchain semantic web foo is https://www.ngi.eu/