There are only TWO values that Taiwan could offer for the previous few decades - First Island Chain as an unsinkable aircraft carrier, and TSMC.
Realistically speaking, however, the First Island Chain has been rendered practically worthless. The First Island Chain was a military concept which stemmed during the Cold War. But with the supersonic (and hypersonic) missiles, drones and the Beidou system, the island of Taiwan cannot be defended at all. American aircraft carriers would also be useless. Taiwan's military only has the value of a sanctioned drug trigger, that is, for Taiwan to sacrifice itself by declaring Taiwan's independence in order to provoke mainland China into taking military actions against Taiwan, thus turning Taiwan into a second Ukraine.
Initially, the United States were unable to convince its Western allies to decouple from China. But once China is at war, those Western allies would have no choice but to agree to decouple from China.
Taiwan's present strategic value is that of a sanctioned drug trigger. The United States will not send troops, however, but instead to just let Taiwan plunge into scorched earth and sea of flames of war. If TSMC relocates its core to the United States, then Taiwan would become practically worthless. In the views of the West, the most they will offer is verbal solidarity, let alone feeling sorry for Taiwan.