I think they should do it. Having an option that isn't dependent on America's ill will, is important if civilized nations are to have agency.
They also should make their own Starlink-ish constellation.
Europe and friends had benefited from a relative golden age of peace, using the peace dividend to invest in their civilian sectors. While it would be painful to invest in defense, the time has come to do so. It sucks, but the Dogey Confederates will abuse decent people if given an opening.