"HPC leadership" by itself is pointless. China owning big computers doesn't put the USA at risk. It's what they do with them that matters, and whatever *that* is, you likely won't neutralize it just by building even bigger computers in the USA.
These HPC people are also glossing over the issue that for most important problems, parallelizing over commodity CPUs connected by commodity networks (i.e. the cloud) is far more cost-effective than the "big iron" shared-memory HPC systems, and via Google, Amazon and Microsoft, the USA completely rules that space.
If the USA needs to build really big shared-memory HPC systems to solve some specific problem connected to China, by all means propose that. General scare-mongering about "HPC leadership" is just an invitation to waste taxpayers' money.