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How does a submarine even all of them, stop a wave of cheapo drones ?
that's not the role of the submarine, other parts of the armed forces will be tasked with that

they could in theory also deploy cheap counter drone loitering munitions of the aquatic variety, sub-inception if you will

also, given it is Anduril, the subs may be the unmanned variety and much smaller

https://www.boeing.com/defense/autonomous-and-unmanned-syste...

Well, this is to build "components for the Virginia-class submarine", but Anduril does also build drone subs:

https://en.wikipedia.org/wiki/Ghost_Shark_(submarine)

Why spent tens of billions on underwater subs when you can accomplish the same or MORE with drones worth thousands of dollars ?
Indeed. The Ghost Shark articles says Australia is paying A$1.7 billion for 'dozens' of units, so tens of millions each. I bet they are a lot more capable than an aerial drone costing a few thousand. And much cheaper than a single crewed submarine.
You might think that but your thoughts are not proof.

I refer to the recent events in the Persian gulf area today.

We can all see that those multi million dollar anti missile defense systems might work against an equal number of drones, but thats not how wars are fought today or in the future.

One multi million dollar missile or drone can only combat one other opponent, if it could do more, both straights around the Arabian peninsula would be open and safe today.

drones don't carry missiles or nukes for second strike MAD
A nuclear submarine costs closer 5B so this isnt about MORE nuclear submarines.
Because Congress allocated this money for one but not the other.
Curious to know what competition Anduril had in this gov. bid