No to me it just shows 2 different capital allocation strategies.
China picked manufacturing.
US picked datacenters.
If 90% of the data centers in the world were hit by a nuclear bomb tomorrow, communication would be a shit show for a month or two, and then go on, as we'd fall back to simpler, less compute-expensive solutions. We'd also probably be net better off without all the adtech crap.
If 90% of the factories in the world were hit by a nuclear bomb, you'd find that your standard of living would immediately, and quite observably plummet.
You tell me which is more important.
The amount of internet technocrap we actually need to live comfortably is a tiny fraction of what actually gets built. Most of it is in service of adtech, the surveillance state, or shaving 0.5% off some rentseeker's fat margins (on his side, the savings aren't passed on to us).
And yet we will do worse in both categories
No, US picked services, financials, defense, and energy
China picked manufacturing, infrastructure, consumable exports
All the compromises here were pointed out by critics on the left many decades ago. Letting capital flee to where labour was cheapest eviscerated the entire US and Canadian northeast/midwest manufacturing sector and was policy driven from the right.
That and we decided that only the private sector should be responsible for building infrastructure and housing, and then wondered why the cost of building either skyrocketed in cost...
And yet now it's the (far) right freaking out and trying to put the genie back in the bottle.
US is not even capable of building data centers (or anything else anymore). This is why all the planned capacity is waaaaaay behind schedule year after year, as if Elon is running the entire operation :)
The US is very strong in manufacturing. There is a lot lower percentage of the population working in the factories (thanks to automation), but there is just as much as there ever was if not more. It isn't high value/growth like data centers, but it is still there and strong