YES!!
The explorer spirit of the West needs some competition to reinvigorate itself.
The Chinese Giant Junk seafaring era ended approximately when Columbus reached America. For the next 500 years the West looked out and the Chinese looked inwards. But Where are the lunar lovepalace hotels anyway?
Now let's see if any enthusiasm can be generated; probably start with spacewar units and then proceed to further exploration. If a new spacerace ensues and the public starts to care about being less advanced than the Chinese, the results could be great.
Now I wish China would put an armed killer satellite up there too. It certainly would start a fuss!
Americans won't care if there is no entertainment value. What China will do in space will be most boring, but is the key to their ascendancy on earth, and it will pass under the radar. The game will be over before we notice anything is wrong.