TSMC is neither software nor fabless. I'm not sure we are talking about the same company, there seems to be some disconnect here. For hardware business 30% margins are high, Apple is one of the most famous exceptions.
When a foundry wishes to raise capital from the private or public markets, it's bucketed under TMT - which includes software and fabless hardware as well.
This means it's almost impossible to raise capital without a near monopoly and/or government support and intervention - which is what Taiwan did for TSMC and UMC - because the upfront costs are too high and the margins are much lower compared to other subsegments in the same sector.
This is why industrial subsidizes like the CHIPS act are enacted - to minimize the upfront cost of some very CapEx heavy projects (which almost everything Foundry related is).
Almost every other foundry system died because of low net margins.
Software (and fabless hardware like chip design) is expected to have 60-70% gross margins or the ability to reach that.
Semiconductors is part of TMT just like Software or Telecom, and this has an impact on available liquidity.
This is why TSMC is heavily subsidized by the Taiwanese government.