> rather than waiting for a central authority, financed with other people's money, to give up on one and pick up the next when it finally gets over its ego.

Arguably, currently the ego problem is very real with the individuals who hold power in academia due to status quo. I don't think the development of science would significantly change even if there was a central authority - it might even speed up, since the people making the decision would not have their careers dependent on preserving the current consensus.