ASML has taken over all the business formerly held by such companies as Nikon, who are now in no position to compete. They would certainly be much better placed

ASML has taken over all the business formerly held by such companies as Nikon, who are now in no position to compete. They would certainly be much better placed to do so again than some random Chinese company with no track record in the area. Disruptive innovations do happen, but that's not what the Chinese are doing here.