That makes sense, but i agree their announcement isn't useful since they don't even mention any advantage of their ASIC (e.g. most energy efficient, low maintenance).
It is useful for them, they need to announce it in order to raise funds, so it's either they secretly announce the specs to the investor or the investors would blindly invest in the project which is likely the case.
In addition, it's known what Blockstream product have mixed result. For example, their satellite and Core Lightning (LN software/library) are great, but Liquid (Bitcoin layer 2/side-chain) and Green (software wallet) has some issues with small user base.
That's a good point, and that is just the software level, this is going to be a combination of both software and hardware, Intel tried to make mining chips and sold them to mostly western companies (U.K, U.S, and Canadain based) such as Hive Blockchain Technologies, and ARGO, it's evident that all of them failed in competing with the Chinese giants, and intel had to stop it's mining chips production.
Blockstream is now probably limited to TSMC (Bitmain's friend) or Samsung (MicroBT's friend), they need to outperform the chip design and cost. So unless they have invented or discovered something new, it will be very difficult to beat the Chinese in this regard, and all of this could just be another failed project.
