Even if chinese MIC gets things done for a cheaper price, the US still has a much larger economy that should be able to eat the cost for it - with all the bells and whistles attached.
I think we shouldn't forget that a large portion of the US economy is service based and other "useless" stuff (useless in the context of war fighting capability). While the Industrial sector accounts for a higher percentage of the Chinese economy.
It's also why jokes about the Russian GDP compared to an randomly picked Central European nation are not well thought out, as their economy is more centered around heavy industry.
And while the US also has a strong industrial backbone we're talking, like you also said, about a sector that has been neglected for decades. Not just aviation, but also shipbuilding, manufacturing of shells, missiles, arms, helmets, etc. etc.
Which is why I believe that a direct comparison to China doesn't favor the US from an industrial POV, even if the US GDP appears to be bigger.
But I agree, even then I'm honestly surprised that the ability to fund F/A-XX and F-47 simultaneously is called into question publicly.
But I also think that we should stop for a moment and just call back into memory that the Navy is also expanding Virginia production, funds the Columbia SSBN, the Constellation FFG, ongoing AB Flight III production, Zumwalt retrofit, Ford CVN construction and will soon have to pay for the development of DDG(X) which is badly needed. On top of that comes all the maintenance cost of the current systems, their modernization, personelle and so, so, so many more stuff they have to pay for. So maybe it is just like that, maybe there simply isn't the necessary spare change for F/A-XX
right now, it's definitely not looking rosy. But the Navy, much more than the AF arguably, has to think very well about their investments right now. Because when things go south, they're the ones taking on the PLAN, PLAAF and PLARF virtually alone with the USAF playing a secondary role.