Imagine the EU would invest these 5 billions into funding microg, alternative app storrs and other drop in replacements for APIs and Apps.
If you fully follow the money, it's mostly used to make local EU agricultural products cheaper, and for the government offices and jobs in Brussels and Strasbourg.
It will not happen, but if they really care about what they claim to care about, this is what they should spend the money on. Not sure if just putting a few on Google will help to get a better, healthier market.