My half-baked sense is that America is good at making the best things for the highest cost, but tends to be meh at making good or adequate things at a competitive price. Our military seems like the strongest example, but I feel like it also describes healthcare/biotech, education, and maybe housing.

This works well for tech, because a good design can be scaled to serve the whole world, and we can outsource manufacturing to companies like China or Taiwan who are better at cost-effectiveness. (And have lower wages. Maybe that's the entire explanation.)