Reason, absolutely yes, but capability, no.

Arianespace has been for decades an extension of the French government, which needed at max several launches per year and didn't give a damn about its market share. As a result, it is seriously behind in reusable rocket development. The space port in Kourou may be the most underused space port in the world, even though its location is unbeatable.

I am not sure if this gap can be closed. Maybe some of the smaller startups like Isar Aerospace can do it, but the giants are ossified Molochs. Not that Boeing is any better, ever since absorbing MacDonnell Douglas and its pathological management structure.