Not if the EU creates the conditions to attract the scientific talent wanting to leave the US.
EU has a terrible track record. It's a gigantic bureaucratic papermill. They never promoted innovation, why would they start now?
They'll probably talk about starting to promote innovation. They kind of have to. But it's a paradigm shift.
> EU has a terrible track record.
In a context where the comparison is China...
I say, let a thousand flowers bloom!
Don’t forget: quite many innovations (most?) that supported the Covid vaccines were developed in the EU.