We have fundamental, foundation, needs in our society: wafer baking is one of them, as is the manufacture of machines with which to do that.
Seems a bit like farming, where the people who actually make things have had thier margins squeezed by all the other people sitting on thier shoulders, till it is barely worthwhile any more.
I think the concentration of silicon manufacture in fewer and fewer hands is not something I view with equinimity. A catastrophe could occur, for example, or an outbreak of megalomania. I would be far more sanguine if the fundamental trades were widely distributed.