Evergrande is definetely a zombie company which deserves to be bankrupted in order to allocate the capital more efficiently.There are some zombie companies in China, evergrande may be one of them.
The issue is that Evergrande has grown so fast and borrowed so much money that it has almost (already became?) become a "too-big-to-fail" company where if it got bankrupted the entire Chinese financial system would be at risk of collapse.
"If you owe the bank $100 that's your problem. If you owe the bank $100 million, that's the bank's problem."