At the risk of sounding a little prickly with my comment - isn't it a little presumptuous to write off a certain amount of research as "wrong"? There are plenty of examples of research that didn't have a clear purpose leading to breakthroughs - safety glass, microwave ovens, and Teflon all spring to mind.
Also, focusing on efficiency doesn't really align with academia's purpose, which (to my mind) has more to do with fundamental research. This article about Xerox PARC springs to mind:
http://www.fastcodesign.com/3046437/5-steps-to-recreate-xero...