I think most people realized that China would catch up eventually, what's shocking is the sheer speed of it. I thought it would at least take 3-4 years before China broke 5nm barrier, but here we are less than a year later.
The fear of actual competition by pseudo-capitalists is not surprising. USAians are "capitalists" until they actually have to compete and stop resting on their laurels.
Have loved Huawei tablets and phones for years. There's ways around it, but I thought it was so asinine when they couldn't officially put the Google Play Store on their products (aside from the Honor brand) for the last few years.