I disagree, especially if we are talking about potentially hundreds of billions in waste. How much better would say software be if instead of Meta wasting $100billion on Reality Labs we gave one time $100,000 grants to open source developers? That would be helping over 1,000,000 open source developers that are actually writing useful helpful software for others.
Instead we had a corporate jobs program that benefited no one outside of Meta's offices.
But that doesn't imply that every project that does not ship was a poor investment of time and resources.