If I had been given $1 million when I was 22 to build something, the world would have a pretty awesome Honda Civic with a flamethrower on the front, a 40" subwoofer in the hatch, and a dial to change the camber angle of the wheels on the fly.
So those things happen in some people reality.
How wheel camber changes handling. How to re-camber wheels without losing stability or structural integrity of the car. Government regulations regarding the deployment and use of flamethrowers on highways. The consequences of being a Car that Goes Boom.
Much useful innovation does come from people pursuing apparently frivilous or non-utilitarian projects, and acquiring skills, experience, and maturity. As well as rubbing elbows with other inventors, a principle message of TFA.
My list would be entirely focused around quality of life and happiness which would mean significant funding for artistic endeavors. It also might lead to slowing the rate we communicate, living healthier (not necessarily longer) lives, building stable communities which might lead to less long distance movement (which would likely be better for the environment - so on that we agree).
What art would you say is a valuable artistic endeavour? To note, I can quite consider science to be largely artistic (as well as applied philosophy), so it's not a clear area.
I think the point is less that every recipient will have good ideas than it is that you're increasing the chances of idea + execution + funding falling into place once or twice for transformative initiatives.