Quoted:
"Chinese military advancements are concerning. They are America's biggest near-peer or actual peer military threat in the world. Whatever gap there is with the U.S., they are closing it quickly."

"China has some quality problems with certain high technology parts, critical indusrial processes, and systems. They also have some cultural/corruption problems similar to Russia's that limit how good their military actually is, or how effective their latest weapons really are."

"The US Military, Intelligence services, Defense Contractors, and Congress all have a long-running habit of intentionally overestimating our enemies military capabilities to keep the money rolling in."

The issue is that all three of these things can be true at the same time. They are not mutually exclusive.

The actual reality of a situation can be complicated at times