How many things were invented or financed because someone wanted to get rich? What happens to those types of things when it's impossible to get rich?

The answer is they don't happen here, they'll happen somewhere else. They may happen with the same people even, and then you're losing knowledge and experience to other countries, which is fine as long as those other countries choose to be friendly with you.

In other words, you willfully put your country's advancement into the hands of other entities. You no longer control your future.