You have a jack of all trades master of none, single engine aircraft with a poor range, poor agility, poor load out, that will cost $200m+ each. Yeah, I'd say there is a massive opportunity there to produce something better and more affordable.
I have to agree, I don't know if you would remember the TFX* project of the 60s, if you don't you might want to look it up, I do believe that the F-35 is history repeating itself.
* Not the one Turkey is currently working on, the one that McNamara dreamed up.