Sure, I get what you're saying, but I hope you see my point here. Pursuing 2nm lithography (which is something like 1-2 nodes from bleeding edge?) with 135 billion euro surely tells you something about their commitment.
I would also point out that many of these companies you mention are immensely scattered. Take anyone and you'll find their resources spread across an evergrowing domain/portfolio. I'm not saying it's bad that Apple is developing cars and Facebook VR headsets - I'm just saying it spreads them thinner. If the EU found it valuable enough to pursue e.g search within the next five years it's not at all unfeasible or unreasonable to do so. It might even be better for the greater good of the internet frankly.
