It is real in so far as starting a new industrial factory in Europe is practically impossible at this stage, with a large regulatory regime that makes it extremely difficult to get started if you don’t already have an expert’s level of understanding of the industry.

However, that is honestly the least of their issues, industrially speaking. Their primary issues are currently of power, land, and labor. Power is an issue because they are no longer getting cheap LNG from Russia. Land is always an issue in Europe, as it is fairly densely populated and getting things approved for building because of that can be difficult (so partially a regulatory issue), and labor is a problem because engineers are treated extremely well in Europe, so poaching one is considered difficult, especially for a new venture, as well as getting cheap labor for the factory itself.

Regulations are a very very small part of their issues.