Yes. This. So, yeah, essentially fundamentally incompatible with the US economy.
The US is going to have to heavily subsidize the payroll of tens of thousands of very accomplished EEs/etc to make this work. By doing that they will also wreck the HW part of SV.
There isn't really a HW part of SV. Hardware engineers aren't paid well enough to live there in droves like programmers. There are some of course, but the ones I know are in San Diego or Bremerton or Israel.
Also, it's completely normal to run a factory 24/7. I think people are just impressed because TSMC is the only one they've read about?
(However, it's correct that a TSMC fab is the most advanced and complicated process on the planet.)
The US is going to have to heavily subsidize the payroll of tens of thousands of very accomplished EEs/etc to make this work. By doing that they will also wreck the HW part of SV.