No, they're still going at it. Partnered with Virgin to make further iterations of the Spaceship One concept under The Spaceship Company. They're shooting to do private spaceflights under the name Virgin Galactic.
For example, ISS has orbit speed of about 7.7 km/s at 350 km above the ground. Orbit speed "at the surface" of Earth is about 8km/s, I believe.
In the big picture, it's not a huge amount wasted, I was just remarking on it being less significant in retrospect than one might have hoped.