I guess I look at this from a different angle.

Yes, if we plan to have a large, conventional air and naval war with China in their own littoral, then yes, we'd probably want a lot more advanced, stealthy aircraft. In an environment where resources are infinite we could do whatever is necessary to prepare for that contingency.

That's just one contingency, however, and we are in an environment where resources are not only limited, but will be declining for the next decade if not longer. The question then becomes one about the relative importance of preparing for this contingency vs. other priorities.

Personally, I think it was ill-advised to cancel the F-22 early, especially considering all the problems with the F-35. At the same time, though, we are going to have to deal with the reality that we will have to do more with less and contingency plan for scenarios where we might have inadequate forces for the task. Would I like more F-22's for a war with China? Yes I would, but at the same time I don't want to facilitate bankrupting our country to achieve that capability, nor do I want to neglect more important priorities. I would also much prefer that we avoid conflict with China in the first place.

In short, we need to get away from the idea that we can, forever and always, field a superior force to all competitors as well as deploy and sustain them anywhere in the world against any and all opponents. The fact that China is trying, and largely succeeding, in improving it's military capabilities doesn't automatically mean we need to spend many additional billions - especially in response to capabilities that remain theoretical.