My point is that politically none of that matters. No one is getting elected because people got to book telescope time for their research. The incentives are not correctly aligned to support research and science.
To go back to the F-35 comparison: the NSF has annual funding of $8.3 billion. The F-35 program is projected to cost $21.7 billion per year through its lifespan (2001-2070). I bet it winds up even higher than that, because nothing has yet changed to prevent endless overruns.
So the F-35 makes jobs and maybe a little bit of interesting work gets done as a result of the project despite itself. We as a society could buy so much more than yet another war machine (and maybe not even a useful one) with that money and effort. What could NSF do with another $13 billion every year?