That’s not what I’m implying.

TSMC would not have thrived if it was purely nationalized, and could have easily collapsed into capitalist hell.

For the processor fab business, specifically, the ideal conditions seem to be some kind of basdardized hybrid. Samsung and China Semi are not far from this either, while the corpses of pure extremes (GloFo, Intel, the Soviet’s and modern Russia’s computing efforts, other pure government efforts and some RISC ones) are littered everywhere.