It somewhat makes sense in terms of industries which are deemed strategically important. Intel needs to start thinking long term instead of short term profits.
Intel has had a couple years of saying they were going into a more long term vision and failing, and it’s unclear how direct government ownership will make them get better at execution
if someone believes this, they should buy intel and just do it outright! But no one does because it's not as easy as "just think long term" - if it were, berkshire has the liquid money to buy intel several times over.
Which is what the last CEO was in the middle of doing and he got fired just recently because they couldn't stomach it