Yes. The FGFA is going to take the top seat in our continent (maybe even the world), the Su-35 is just a stop gap arrangement for the PAKFA. It is like the Silent Eagle to the Raptor. Super Sukhoi will carry AESA which puts the aircraft in a much more favorable position compared to the Su-35. Their altitude, range and speed easily puts it in a different level compared to the Rafale. Also, the fact that the Su-35 numbers to be ordered by the Chinese is extremely low for it to be able to do anything.
And Rafale is meant for a completely different role. It can generate more sorties compared to the above fighters.
If we say the MKI/Su-35 and FGFA can manage one sortie a day, Rafale should be able to manage 3 sorties. If the FGFA is priced at $100 Million, then the price per sortie is more than three times that of Rafale, considering Rafale is also $100 Million. But the two types of aircraft perform different missions. So, the value of the mission is also important. Meaning, FGFA will perform missions Rafale cannot.
Rafale is known to be able to take on a Flanker within the strengths of its envelope, so we have little to be worried about if we have to fight Chinese Flankers, especially considering they have to take off from higher ground.
Since when are we cash strapped? And Rafale isn't expensive as being made out to be. Why is that so difficult to understand? IAF should potentially be spending around $100 Billion on just fighters by the end of the next decade. Both Rafale and FGFA are less than half that amount.
Just to give you a rough comparison, the Russian defense budget is similar to ours when it comes to conventional forces. The Russians plan on spending $600-650 Billion in 9 years (from 2011 onwards). Out of this the VVS is set to receive around $150-200 Billion. This means if IAF is expected to spend at least $100 Billion in the next 15 years, the Russians plan to spend $100-150 Billion in just the next 5 years.
ITAR-TASS: Russia - Russia to spend $600 billion on state armaments program by 2020
What I am trying to say is the Indian spending is a pittance compared to what we can really achieve. Under Modi's rule we should be able to spend a lot more on defense in the next 5 years. Even if the Russians achieve half that figure, they are still spending more than India is.
We are not cash strapped.
The F-35 isn't going to be part of the IAF. And FGFA may eventually be more expensive than the F-35. Comparatively Rafale will be significantly cheaper, especially the lifecycle costs compared to both F-35 and FGFA.
And China is also making their own set of most expensive fighters, and they are actually ahead.