For example, there was news recently about a breakthrough discovery of a -70C superconductor. The media spun it as if loss-free electricity transport and maglev trains are just around the corner. But in reality, this material (Hydrogen Sulfide) required 2 million atmospheres of pressure for superconducting at this temperature.

No conspiracy or lack of funding is behind the lack of practical applications, in this case it is just utterly unfeasible outside of a laboratory. But even if the material will never make it to the market, it's still a scientific breakthrough that will give scientists new understanding of how the processes work, and perhaps lead to other discoveries with more practical applications in 2, 20 or 200 years.