Europe's strategy has indeed been stupid, but not for the reasons you write.

Some parts of the energy transition are profitable, like EVs and heat pumps. This is where Europe dropped the ball.

Other parts are unprofitable, like hydrogen. This is what Europe has prioritized, without anything to show for it.

Then there are the ugly parts, like most carbon capture or importing virgin palm oil mislabelled as used cooking oil. Those things don't even decrease emissions. Again, Europe has focused too much on this.

If Europe would simply have banned combustion engines and gas boilers, emissions would have decreased drastically while prices would also decrease. Alas, Europe prioritized bad stuff instead.