"Wouldn't it have happened regardless, once everyone realized that increasing the scale of early models like GPT-2 and GPT-3 was key to improving performance?"
Notice how it was massive private spending that uncovered the power of scale in the first place. Would've been hard to say, get a federal grant for that. Would've probably happened gradually, with some gains from moderate scale justifying slightly larger grants for successively larger scale.
As for TSMC, the counterfactual assumes such technology would've happened regardless. Just because technology seems to happen inevitably, doesn't make it so. We have evidence of one approach (private) giving incredible results. And also some examples of public (in wartime) giving incredible results. I don't know the evidence for peacetime public incredible results. Maybe warpspeed?