> don't think the memory of America as a bully will go away
It won't. But going digitally sovereign will cost Europe tens of billions of euros. If there is a friendly race on the other side of the Atlantic, that will not mean the memories go away. But the urgency of the initiative is certainly sapped.
Stimulus spending is very much a thing. An extremely well known thing. American governments of every lean have pushed "buy American" policies for that reason.
Most other countries didn't just because it eventually evened out in the end. But with the US being an adversarial nation, everyone should redouble efforts to ensure not a penny supports that autocracy.