I love War is Boring. This article about the state of the T-50 PAK-FA, aka the Russian F22 is chock-full of interesting reads.
For example, India and Russia have an $8B agreement to develop the desi version of the stealth fighter. India is on the hook to purchase 150 of them, with a clause to purchase 100 more. :O
After months of haggling and disagreement, Russia agreed to cut development costs for the Indian version of the PAK FA. Theoretically, India is on the hook for roughly 150 fighters, and could purchase a hundred more on top of that.
Also, much like everything else, Indians haggled the price down for that too from an estimated $12B to $8B ($4B each)
Meanwhile, China has ramped up their own stealth air superiority fighter program - the Chengdu J20. Here comes the kicker - Pakistan has agreed to purchase the J31 (a likely variant of the J-20) from China.
So, while USA has primarily used the PAK-FA to promote its defense budget to develop the F22 and the F35, the J20 is likely yet another viable threat they need to account for.
If we look at India and Pakistan though, the delays in PAK-FA is not good news. While the J31 is just as non existent as the PAK-FA and in theory, PAK-FA might have a slight advantage given the more powerful engine and the three dimensional thrust vectoring, all of this is still speculation.
I maintain that defense based fighter jets are still a net negative for the world as a large chunk of development could just be used to better mankind and build lasting peace. However, I will admit that the competition for air superiority does improve technology across the world.