But what would do a Grip E force against Su-57s or J-20Next? ... Making saving plans is a great thing to do while you are not invaded.
Point can be made, that single, weaker country will get more use of more diverse asset system compared to a single stop F-35 force, if the latter can't expect to be saved by the US.
F-35 is large(difficult to hide), expensive asset, tied down by non-dispersable maintenance. It can operate from dispersed locations for a short while, but it'll cease naturally soon enough.
F-35 is ultimately an offensive, "1st day strike fighter". Granted, it'll produce better results on ship to ship basis, all things being equal. Which may not be equal - if directly fighting chinese J-20 force(with enablers) with small F-35(without enablers) force is equally hopeless, F-35 doesn't justify itself.
Especially if REDFOR is expected to just crush advanced logistics, and will have easier time finding big aircraft on the ground.
Combining more attritable/dispersable "2nd day"(see KF-21 topic) aircraft in ground-controled ambush role with survivable SAM network(procured from savings - or, one may say, it's better to procure gripens from SAM savings!) will give better effect on OPFOR if you're all by yourself - ironically giving a country more "value": country can fend off for itself, it's an asset. If saving or conquering Romania takes same number of divisions(WW1 german joke) - military value is less, no matter how much of a "good ally" you are.
"2nd day" in this case is more than 1 aspect(vulnerability to being detected). Taking off on a 2nd, 3rd and 15th day is also something.
Finally, while we write that F-35 is just a better aircraft - it isn't better aircraft
across the board. Gripen has specific advantages exactly as an underdog.
Vietnam/Ukraine experience.
p.s. also, it's clear that one way or another, regardless of stealth fights, su-57s just don't operate as 1st day strike fighters. Whether it's because their stealth is insufficient, or they aren't designed to, or they are, but Russia can't accept risk of losing one - is secondary here. And this is also an argument against a small F-35 fleet - even if you have capability, can you accept losses? And even more ironically -
can United States accept your losses? No one will care about Sweden's objections (and frankly there's little to lose there anyway), but US may prefer keeping their core advantages against China.