The problem is that Europe isn't really getting a whole lot of value for the money they spend. You can say about SpaceX what you want (and yes the CEO is an utterly despicable asshole) but they have certainly delivered for the money they've received.
Well. Is that a problem. Those seem like quite modest amounts for Europe to keep space sovereignty. I'm sure subsidies from NASA to Musk's SpaceX are much higher.
save