The barrier to replicating TSMC isn't just cost, it's supply chain, geopolitics, and talent.

Only one company on Earth can make the UV lithography machines TSMC buys for their highest end fabs, and they're not selling to anyone else.

The PRC tried to brute force this supply chain backed by the full might of the Party's blank check, all red tape cut, literally the best possible duplication scenario, and they failed.