The result might be close to two nodes behind, but the design and production cost might be higher since they don't have access to EUV machines. I'd say they're further behind than "two nodes". But still, pretty damn advanced.

If their process is essentially copied from TSMC, can they keep up with R&D though? China is becoming an increasingly less desirable place to live, so just poaching Samsung and TSMC engineers and copying the process might be increasingly difficult. And I doubt they'll be able to build the tight relationship with machine designers/manufacturers like ASML that TSMC has.