I think it matters in the sense that it shows how quickly SMIC is not only recovering, but building itself anew and better, without the prior liabilities of various western dependencies. It shows the triumph of the Chinese system and human ingenuity and resolve, against western attempts at monopolizing said industries and blatantly sabotaging Chinese development- and I imagine it’s an example that is catching the attention of many global south and eastern countries- particularly India and Russia, the two countries best poised to follow in China’s lead in the decades to come (or years if we’re very optimistic).
That said, even if it were financially in the red, the development and production is what really matters most. Everything else is just added benefits in contrast to the above.
If anything, they’re to blame for the deprivation, waste, and pollution of freshwater in many regions. Even just in the imperial core- the US- there are countless examples of this, not to mention the well-documented, inhumane artificial droughts and water monopolization imposed on northern Mexico by a series of American dams and canals.