That's not quite true. Traditional academia developed the technological foundation (TCP/IP) but the actual internet was built by industry.
And "less and less of actual value" != "nothing of value". And the work on TCP/IP was done 50 years ago so that's not a particularly strong data point to argue against my claim.
50 years ago was 01972, and work on TCP/IP didn't begin until 01974, and didn't get deployed even on the ARPANET until 01982. Academic work on TCP/IP continues to this day and it wasn't until Van Jacobson's work in 01988 (academic in nature but done at a government research lab operated by a university, rather than at a university itself) that it was actually viable. TCP Vegas is from 01994, and academic work on TCP/IP and other internet protocols continues today. Dan Bernstein's work creating the most widely used cryptosystems for TLS comes to mind.
Even today, the most important site on the WWW is Wikipedia, and it's largely a creation of traditional academia, though ever since the Essjay scandal Wikipedia discourages editors from touting their credentials.
Basic research is by nature somewhat slow to affect society at large; certainly very few people in 01980 or 01990 would have named the 01974 work on TCP/IP as one of the most valuable things created in the past 20 years. They might have named the Lisp Machine, for example, which turned out to be a dead end. There's research being done today that's similarly earthshattering but we won't know what it is for 30 years.
Also, though, you seem to have confined yourself to criticizing a single one of my 15 examples of enormous contributions of value to society from traditional academia in the immediate past. And only one other is vulnerable to your weak criticism that it's from 50 years ago (unlike the actual example you criticized, which is mostly from only 35 years ago).
Does that mean you agree that the other 13 examples are indeed enormous contributions of value to society from traditional academia in the immediate past? If so, what kind of much larger historical contributions of value to society by academia in the more distant past are you implicitly contrasting them with? Please give examples.