> nothing to brag about
Maybe some things shouldn't be about bragging but about getting the job done, and cutting edge isn't the only way to do it. If anything, the problem here isn't that it's "just" 16nm but that the EU isn't developing a end-to-end (research to manufacturing) true home grown industry and still relies a lot on external partners like Intel to do it from the outside.
But a good first step to develop enough talent locally that can later flow into domestic alternatives.