I used to work in academia and was involved in NSF and DOE grants. I’ve been in industry (IC then manager) since then.

My sense is that grant funding was less merit based than industry funding. I’m not saying it’s so corrupt that it should be completely torn down, but there’s just less accountability in academia - you can get a grant, fail to deliver on what you promised, and still get another grant after that and that can be your whole career if you know how to play the academic social game and are good at writing proposals.