TSM has reached a critical mass both technically and financially, making it ever more difficult for the competition. Since they make a full range and semis at many nodes they can extract economies of scale no one else can match. Combine this with a very supportive government and a very technical population and TSM is now an almost unstoppable force in more ways all the time. The only threat is China, which unless they take over Taiwan, they will always be either a customer or an also ran, neither choice they like. If China ever gets fully cut off from supply, look for trouble. Full disclosure, I hold a substantial position in TSM for over ten years.