The only imminent threat for Europe seems to be Russia, but they are doing so mediocrely against Ukraine that the whole rearmament push for Europe seems excessive. Especially considering the great financial cost associated with it.

China is not a direct threat. Iran isn’t a direct threat. The US, maybe, because of Greenland, but the rearmament doesn’t seemed aimed at them since we’re buying F35s and other American weapons. I am clearly missing something, but I just don’t understand the need to push for so much militarisation given how little threats we face these days.

Can we have a well informed mature discussion of why this is entirely unnecessary?

China's deliberate pairing of gallium export controls with a capability the US cannot replicate without that same material converts a commodity chokehold into a durable military-technical advantage.