You have to distinguish between SETI (listening in for communications by intelligent civilizations) and more general searches for signs of life in the universe.

SETI doesn't get much funding, because Congress blocked it in the 1990s. Career-wise, this is also an incredibly risky subject to pursue as a researcher, because the most likely result is nothing.

On the other hand, other research into life in the universe is booming. The search for "biosignatures" in exoplanet atmospheres is a major subject in astronomy. One of the main goals is NASA's Mars rovers is to look for evidence of past habitability.

It would be great if SETI got more funding, but it's not as if there's no research into extraterrestrial life. There's a huge amount of research that isn't as flashy as SETI: atmospheric chemistry of exoplanets, the geology of Mars, etc.

I think you need to take what Loeb is saying with a very large grain of salt. There's a fair amount of annoyance and disgust within the astronomical community at his misrepresentation of what other astronomers have or have not been doing, particularly given that he's only been interested in this for a handful of years, versus the decades others have devoted to it.

There's a large degree of self-congratulation and self-promotion in what Loeb is saying, and denigration of what others have been doing. The idea that this field of research is "stifled" because people are "scared" is basically bullshit.