That's not a countervailing argument, that is the argument. The side able to apply more industrial power defeated the side with more capable but less useful equipment.

The US outspends the next 10 countries combined in peace times. By comparison, Germany outspent the US on its military by a factor of 20 on the eve of WW2. Obviously once the war got going, the US' immense industrial capacity (along with the other Allies; the British Empire and the Soviet Union had the number 2 and 3 GDPs) was unstoppable.

We no longer live in the age where the US represents half of the world GDP and the bulk of that is manufacturing. China's has a larger economy in terms of Purchasing Power Parity, it has extensive manufacturing capacity, and a vast population. If push came to shove, we wouldn't be able to simply outspend them. In that hypothetical conflict we are the germany with a bunch of questionably useful wunderwaffe.