You're right, a deeper analysis is probably required and hopefully was done. In general though, I think any investment that develops the means of production of a country is well spent. Having the capabilities and equipment is a huge long term boon I think.

Like I'm not sure what else would money be better spent on then education towards a knowledgeable workforce and the means of production to produce and service people.

Within that category, I agree there is an opportunity cost, like is battery manufacturing the right thing to invest in compared to other products or services? That's a much harder thing to predict though.