It will happen. Hardware is cyclical, no vendor stays at the top for long. They establish a lead, juice sales, screw up support and the next one comes in to replace the last leader - it’s a tale as old as hardware.
TSMC needs competition. Intel aren’t providing it, Samsung is focussed on the old integrated model, Nvidia are coasting on GPU sales for AI, there IS room for a new player..
Maybe Bukele seeks to replicate TSMC in ES in partnership with a lower tier vendor?
Apple bought a whole division for Billions of dollars so that tech lead is difficult to catch-up in the immediate term but something that works for Billions of people on lower margins that approaches via a new paradigm could have a shot?