I think LeCun has been so consistently wrong and boneheaded for basically all of the AI boom, that this is much, much more likely to be bad than good for Europe. Probably one of the worst people to give that much money to that can even raise it in the field.
LeCun was stubbornly 'wrong and boneheaded' in the 80s, but turned out to be right. His contention now is that LLMs don't truly understand the physical world - I don't think we know enough yet to say whether he is wrong.