Don't Germany get the same benefits by continuing the other FCAS pillars (all but the NGF), but with a much larger % workshare for their own players? E.g. Germany could continue the FCAS engine pillar (Euromet) with 33% workshare for MTU, the sensor pillar with 33% for Hensoldt, etc.The advantage of a GCAP lite would depend on the country. For Sweden, Germany and Spain it would give them access to a powerplant and other technologies for a smaller manned platform that would integrate with a larger platform.
The aircraft platform would still be up in the air. But rather than a GCAP lite that doesn't meet their stated needs, it's more likely they will either cobble together a new fighter partnership with Sweden and Spain, or (especially if Airbus DS has a say) fall back to a short term fix like a mixed buy of Eurofighters, CCAs and a few F-35s which buys them time (probably another decade).