You could summarize it as "Wah Wah, competing technology not as good as trillion dollar R&D from competitor with 20 year market advantage".

Even if it has a lower yield, having a competing technology to EUV is absolutely amazing in several ways.

He is trying to say that until they succesfully move to the "do-it-at-scale, do-it-right" parts, we're at the do-it part atm, and that's no real competition to those doing it at scale and right already.

So the playbook atm is more promise than concrete reality.

Nor is there some law that says "they did it for other technologies, so they'll manage it for this one too" (besides, this is survivorship bias, forgetting about the technologies they didn't manage to do it).

Doesn't cheap comes after scale?

"Wright found that every time total aircraft production doubled, the required labor time for a new aircraft fell by 20%"

https://en.m.wikipedia.org/wiki/Experience_curve_effects