I understand the concerns around using funds effectively, and I agree there's a lot of waste out there, but some of that is just required in the research space to learn. If we knew what to fund to do something, it's no longer research, it's engineering.
Overhaul the grant system to ensure that there's additional scrutiny in getting funding, focus on outcomes we want, audit the past research, but burning it all down doesn't help and just wastes what's currently in flight and we'll have to rebuild eventually, duplicating effort and thus wasting money.
I understand the emotional reaction, but it would do everyone a lot of good to take a step back, take a deep breath, and approach things in a measured and focused way.