It matters more to US politically than scientifically. It's totally about the US mojo in the eyes of politicians and thus funding.
You win it using the playbook the CCP has been systematically and very successfully implementing for a few decades. They are very good at long-term planning. The US plans in 4-year (or 8-year) cycles, and often times reverse course completely at the end of those.
I'm all for reinvigorating the global economy with a resurgence in scientific investment, but it only works if we do it patiently. China understands that, the CCP is quite capable of national planning that transcends administrations. You can't force a moon landing like it's a political OKR, if you do then you better have a pretty solid Plan B considering the amount of risk it represents.