Yeah China is basically forced to develop the entire fab supply chain which is something that if achieved, would bring China's to the level of Korea and Japan? The two closest to having the entire ecosystem? The US controls everything indirectly from Netherlands to Germany, South Korea to Japan, and Taiwan but they don't have it all under their roof. If China can manage this within 5 or so years, even to a degree that isn't market competitive, it would put it at an impressive and near peerless league (save for US which we could consider as the "owner" of the other five primary suppliers each with their own niches).
Why do you think they are incapable of doing so? When all that's left seems to be EUV lithography (with the others either mastered, near mastered or obsolete but still usable?) and EDA tools. That's two things within the domain of diminishing Moore's law silicon semiconductors within 5 years or so.
If I understand this field correctly, China's own is far from market leading but it's damn sure second place to the group of five suppliers Netherlands, Japan, Korea, Taiwan, and Germany held by the US puppet master. There are no third places. Niche fields exist in UK of course but when it comes to fab I don't think so? Russia and India are around the same level and well behind even this but they do have access to the entire set of supply chain equipment which China is now totally banned from. What China's got without the bans are market leading. Without the latest EUV lithography machines and EPA tools, China cannot be market competitive and can only depend on stockpiled supplies of chips for uses because it cannot manufacture <28nm without at least those two things.