Often it wasn't appreciated that if much of the investment equipment is imported, the exchange rate doesn't appreciate as much. Yes, other sectors, including manufacturing, will find it harder to compete with imports when the exchange rate is high. But that isn't a permanent state of affairs. In any case, the international evidence is that the Dutch disease doesn't necessarily reduce long-term growth prospects.
For that to have been true, the industries that get squeezed out would need to be somehow more important for productivity growth than those that survived. That isn't what the evidence suggests (Magud and Sosa 2010).